US stocks back in rally mode on vaccine progress | Malay Mail

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NEW YORK, Dec 15 — Wall Street stocks were back in rally mode early today as another coronavirus vaccine moved closer to approval, while markets monitored ongoing US stimulus talks. The US Food and Drug Administration released a positively-worded briefing document about the Moderna Covid-19...

About 20 minutes into trading, the Dow Jones Industrial Average was up 0.4 per cent at 29,991.79. — AFP pic

The US Food and Drug Administration released a positively-worded briefing document about the Moderna Covid-19 vaccine, a strong sign that a group of experts that meets in two days could vote to approve it just days after the agency cleared the Pfizer-BioNTech vaccine.The broad-based S&P 500 gained 0.7 per cent to 3,673.02, while the tech-rich Nasdaq Composite Index advanced 0.8 per cent to 12,538.65.

Today’s gains were a reversal from yesterday’s session, when New York City Mayor Bill De Blasio warned the city could shut down again due to spiking Covid-19 cases, and the US death count hit 300,000.

 

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