Wall Street rallies on Covid-19 vaccine hopes & promise of more Fed cash injections ...United Arab Emirates

Russia Today - Economy
Wall Street rallies on Covid-19 vaccine hopes & promise of more Fed cash injections
source : Russia Today ( United Arab Emirates ) () 71
US stocks surged at the opening bell on Monday boosted by news from drug maker Moderna about a potential coronavirus vaccine and the promise of more fiscal and monetary stimulus to support the US economy. The Dow Jones Industrial Average shot 800 points, or over three percent, higher. The S&P 500 of America’s top-500 corporations rose three percent, while the tech-heavy Nasdaq Composite advanced 2.5 percent. Commodities were also soaring on Monday, with US crude benchmark West Texas Intermediate gaining nearly 12 percent to $33 per barrel. The stock rise comes as Moderna reported encouraging results from the human safety trial of a pot

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