Stock market today August 5, 2020
August 5, 2020
Stock market today
A higher close today for the US stock market, Dow Jones gained more than 370 points.
S&P 500: 3,327.77,+21.26(+0.64%)
Dow 30: 27,201.52,+373.05(+1.39%)
Russell 2000: 1,546.25,+29.04(+1.91%)
“Stocks rose Wednesday as investors considered a spate of updates around companies’ coronavirus vaccine development and distribution plans, alongside a batch of stronger than expected corporate earnings results.
Johnson & Johnson (JNJ) announced it had entered an agreement with the US government to manufacture and deliver 100 million doses of its Janssen unit’s investigational coronavirus vaccine candidate. Meanwhile, Moderna (MRNA) CEO Stéphane Bancel offered more details on pricing plans for the company’s own vaccine candidate, saying some customers would be charged between $32 and $37 per dose.
Shares of CVS (CVS) advanced after topping expectations in second-quarter results. Health-care company CVS grew profit more than 50% over last year as costs in its health-care benefits unit fell. The company also raised its full-year profit guidance. Moderna’s revenue of $66 million was more than double consensus estimates, and the company said it remained on track to finish enrollment for its Phase 3 coronavirus vaccine trial in September.
Disney’s (DIS) stock rose more than 8% to lead the Dow higher, after the company reported mixed third-quarter results Tuesday evening but unexpectedly eked out an adjusted profit per share despite broad-based business disruptions due to the pandemic. In a move to begin rolling out its backlog of films not yet released in theaters, Disney said it would release its live-action “Mulan” starting Sept. 4 on Disney+, with the streaming platform now boasting 60.5 million global subscribers. Disney also plans to launch a new streaming service under its “Star” brand.
Wednesday also brought the first of several major economic data reports this week on the state of the labor market – and the print drastically missed expectations. The ADP National Employment Report showed private employers added back a net 167,000 payrolls in July, whereas consensus economists expected additions of 1.2 million. Private payrolls had increased by an upwardly revised 4.314 million in June.”
Stock market source: https://finance.yahoo.com/news/stock-market-news-live-august-5-2020-221436218.html
Stocks that moved today
BigCommerce Holdings, Inc. (BIGC): 72.27+48.27 (+201.12%)
Teladoc Health, Inc. (TDOC): 202.01-47.41 (-19.01%)
The Walt Disney Company (DIS): 127.61+10.32 (+8.80%)
Novavax, Inc. (NVAX): 173.49+16.32 (+10.38%)
All stock prices are at the close of today’s stock market trading session.
Stock market data: Yahoo Finance