Author Topic: Dow tops 28,000 for the first time since February as Covid-19 vaccine, treatment hopes rise  (Read 1302 times)

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Online Elderberry

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Yahoo Finance by Emily McCormick 8/24/2020

Stock market news live updates: Dow tops 28,000 for the first time since February as Covid-19 vaccine, treatment hopes rise

Stocks rose Monday, with the S&P 500 and Nasdaq hitting fresh highs and adding to last week’s record levels, as market participants reacted to positive developments over a coronavirus treatment, and signs that a vaccine might be authorized in the near-term. The Dow closed above 28,000 for the first time since February, led by advances in shares of Boeing (BA) and Dow Inc. (DOW).

Travel, airline and other “reopening” stocks rallied, with shares of American Airlines (AAL), Norwegian Cruise Line Holdings (NCLH), Wynn Resorts (WYNN) and their peers each jumping. Apple (AAPL) shares advanced to their highest intraday level ever ahead of the stock’s four-for-one stock split.

The U.S. Food and Drug Administration (FDA) on Sunday said it issued an emergency use authorization for investigational convalescent plasma to treat Covid-19 in hospitalized patients. While the treatment has not yet undergone full clinical trials, the FDA said that it deemed that the data so far suggest “product may be effective in treating Covid-19 and that the known and potential benefits of the product outweigh the known and potential risks of the product.”

President Donald Trump, speaking in a press conference, called the approval a “very historic breakthrough,” and said the treatment reduced mortality by 35%, based on a study of patients by the Mayo Clinic.

More: https://finance.yahoo.com/news/stock-market-news-live-august-24-2020-111353198.html

Offline GtHawk

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I think it's awesome that we are still seeing benefits of the OBiden administration almost four years after it became defunct.

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