Home Business New York stock market shakes up on anticipation of eating corona treatment 14

New York stock market shakes up on anticipation of eating corona treatment 14

by news dir

The New York Stock Exchange was shaken up by news of the development of a novel coronavirus infection (COVID-19) treatment pill. On the 1st (local time), the Dow Jones Industrial Average of the New York Stock Exchange finished trading at 34,326.46, up 482.54 points (1.43%) from the previous day. The Standard & Poor’s 500 Index rose 49.50 points (1.15%) to close at 4,357.04, and the Nasdaq index, which focuses on technology stocks, rose 118.12 points (0.82%) to close at 14,566.70, respectively. The Nasdaq index ended its decline for the fifth straight trading day. The New York Stock Exchange, which had been sluggish last month, turned to a clear rise of around 1% on the first day of October thanks to expectations for overcoming the COVID-19 pandemic. On the same day, US pharmaceutical company Merck announced that it will apply for emergency use approval to the US Food and Drug Administration (FDA) as soon as possible. said. Merck shares surged 8.4% on the news of the development of a treatment, as well as travel stocks and airline stocks, both of which are classified as beneficiaries of the normalization of economic activity. Las Vegas Sands Group, a casino operator, rose 4.3 percent, and cruise company Royal Caribbean rose 3.8 percent. Southwest Airlines also surged 5.7%. Most major tech stocks also turned higher on the back of the 10-year U.S. Treasury yield falling below 1.5% on the day. But Moderna shares plummeted 11.4% as investors feared that the development of a pill treatment could reduce demand for a COVID-19 vaccine. Meanwhile, stocks account for nearly half of US household wealth, the highest level in 70 years, CNBC reported, citing a Bank of America report. The S&P 500 has risen more than 15% this year, but fell 4.8% in September, marking the biggest monthly decline since March last year, during the early stages of the COVID-19 crisis. (Photo = Yonhap News)

Related Articles

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.