Stock market today November 16, 2020
November 16, 2020
stock market today
S&P 500: 3,626.91,+41.76(+1.16%)
Dow 30: 29,950.44,+470.63(+1.60%)
Russell 2000: 1,781.40,+37.36(+2.14%)
Stock market data: Yahoo Finance
stock market news
“The Dow and S&P 500 soared to record closing highs on Monday after Moderna (MRNA) became the latest major drug-maker to announce upbeat data for its COVID-19 vaccine candidate, building on hopes that an effective inoculation will soon be available.
The Dow rose more than 450 points, or 1.5%, to top both its former record closing and intraday high on Monday. The S&P 500 also increased to a record close. Shares of airlines, cruise lines, hotels, and restaurant companies surged anew as the latest vaccine data suggested consumers might return more enthusiastically to these businesses. Moderna’s stock jumped more than 9% to a record high of its own.
Moderna said Monday that preliminary data from its late-stage clinical trial showed its vaccine candidate was 94.5% effective in preventing COVID-19 in participants. That followed Pfizer’s (PFE) announcement last week that its own vaccine candidate, which uses similar new messenger RNA technology, had an efficacy rate of more than 90%, or well above what many public health officials had been expecting.”
Stock market source: Yahoo Finance