Stocks rebounded Monday from losses last week on optimism that the U.S. economy might start to recover from the coronavirus pandemic after drugmaker Moderna released promising early results for a vaccine.
“There's still a long road to travel before this vaccine would be available even if it proves to be effective, but any light at the end of the tunnel is welcome,” Paul Hickey, co-founder at Bespoke Investment Group, said in a note. In an interview with CBS’s “60 Minutes,” Fed Chair Jerome Powell expressed optimism Sunday the U.S. economy can begin to rebound in the second half, assuming the coronavirus doesn’t erupt in a second wave. He said a full recovery won’t likely be possible before the arrival of a vaccine.
Energy, industrial and financial companies led the broader market higher Monday. Shares of Wells Fargo, Bank of America and Citigroup each rose by at least 4.5%.
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result ?didnt stop the virus ! but didnt kill any rats in the last test
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