Dow surges over 300 pts at opening amid vaccine hopes

Tuesday, 01. December 2020 15:30

Major stock markets in the United States opened higher on Tuesday after Vice President Mike Pence stated vaccines against coronavirus would be distributed within weeks. Meanwhile, it was reported a group of senators would propose a package worth $908 billion aimed at combating the ongoing economic crisis. Traders will also keep a watchful eye on the country's latest results in manufacturing and construction, as well as on new updates by the Federal Reserve's Jerome Powell and Lael Brainard to be presented later in the day.

The Dow Jones Industrial Average surged 1.10% or 326 points at the opening as UnitedHealth Group Inc. grew by 2.51%. The Nasdaq 100 traded 0.90% higher, with Moderna Inc. jumping by 16.03%. The S&P 500 went up by 1.05% as Apartment and Investment & Management Co. increased by 26.56%.

The euro gained 0.48% against the dollar to sell for $1.19848 at 9:27 am ET. A minute later, the pound sterling advanced by 0.18% against the greenback to exchange hands for $1.33491.

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Breaking the News / JR