Dow jumps 280 pts on open after vaccine news

Tuesday, 11. August 2020 15:31

The Dow Jones Industrial Average surged more than 280 points at the start of the trading session on Tuesday after optimistic news on the COVID-19 vaccine front. Russian President Vladimir Putin has revealed earlier in the day that Moscow registered the first coronavirus vaccine in the world, while the country's Health Ministry announced that it will be available to "the civilian population" from January 1, 2021.

Meanwhile, the tensions between Beijing and Washington showed no signs of slowing down, as US President Donald Trump claimed that the relationship between the two world's largest economies took a turn for the worse, while the Asian country's Foreign Ministry accused the White House of trying to stifle its relations with China, urging Trump's administration to stop "stirring up confrontation."

The Dow Jones soared 1.00% or 280 points as the session started, with JPMorgan Chase & Co. advancing by 3.32%. The S&P 500 gained 0.49% at the open as Norwegian Cruise Line skyrocketed 7.63%. At the same time, the Nasdaq 100 lost 0.43%, with Advanced Micro Devices plunging 3.55% two minutes into the session. The euro advanced 0.21% versus the dollar, selling for $1.17626 at 9:33 am ET.

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Breaking the News / BU