Wall Street finishes higher, Dow up over 900 pts

Monday, 18. May 2020 21:59

Equities on the United States stock markets ended the trading session higher as optimism surrounding Moderna's COVID-19 vaccine boosted stocks higher. The Dow Jones surged more than 1000 points minutes before the close but it fell to 912 points at the closing bell. Moderna announced that early-stage trials of the COVID-19 vaccine gave positive results so far. In the meantime, Federal Reserve Chairman Jerome Powell stated that the true path to economic recovery lies in the development of a vaccine.

The Dow Jones closed 912 points or 3.85% in the green with Boeing Co rising 12.92%. The S&P 500 jumped 3.15% to its 10-weeks high at the closing bell, while Expedia Group rose 18.62% at the close. The Nasdaq 100 gained 1.96%. United Airlines Holdings was the best performer surging 21.13%.

The euro traded 0.93% higher against the dollar at 4:00 pm ET, changing hands for $1.09173.

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Breaking the News / TF