Dow Notches 4-Day Winning Streak on Positive Vaccine News
Investing.com – The Dow notched its fourth-straight daily gain on Wednesday as positive vaccine news and earnings from banks boosted investor sentiment.
The Dow Jones Industrial Average rose 0.85%, or 227 points, the S&P 500 gained 0.93%, while the Nasdaq Composite added 0.59%.
Drugmaker Moderna (NASDAQ:MRNA) jumped 6.9% after reporting that its coronavirus vaccine candidate, mRNA-127, produced antibodies in patients aged 18 to 55, suggesting the treatment could protect against infection by the virus.
Some on Wall Street, however, said it was too early to draw a conclusion from the early-stage clinical data.
"Many open questions obviously remain, including on immune response durability, and what the profile might look like in older adults, but we believe the data represent a good start," Chardan analysts said in a note.
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