US stocks surge on increased hope for a coronavirus cure

Technical Analysis

Author: Greg Michalowski | sp

Moderno coronavirus vaccine passes phase 1 targets

Before the opening, Monderno announced that phase I tests for a coronavirus vaccine were positive. That helped to send the Dow industrial average up around 600 points in premarket trading. It is ending the session with the index moving up over 100points in the last hour of trading before rotating a little lower before at the close. The NASDAQ and S&P also were solidly higher. All 3 indices have gained over the last 3 days.

The final numbers are showing
  • Dow index index rose 911.95 points or 3.85% at 24597.32
  • S&P index index rose 90.21 points or 3.15% at 2953.91
  • NASDAQ rose by 220.26 points or 2.44% at 9234.82

See here for global coronavirus case data
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