Wall Street’s main indexes advanced today as signs of a working Covid-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. — Reuters pic
The tech index climbed 1.6 per cent, the most among major S&P sectors, followed by the consumer discretionary index. “It will be a long time before we can get a sizable part of the population inoculated with the vaccine... but it does speak to a slightly brighter future,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
At 09.52am ET the Dow Jones Industrial Average rose 81.21 points or 0.28 per cent to 29,502.13, the S&P 500 gained 23.46 points or 0.66 per cent to 3,568.99 and the Nasdaq Composite gained 171.47 points or 1.48 per cent to 11,725.33.