Dow opens at all-time high on COVID vaccine hopes

Monday, 09. November 2020 15:30

Major stock markets in the United States opened higher on Monday on the news that Pfizer's vaccine candidate showed 90% efficiency in its late-stage trials, propelling hopes the pandemic might end soon. The statement led to a rise in premarket shares, oil, and yield prices. Earlier in the day, President-elect Joe Biden and Vice President-elect Kamala Harris revealed the names of "leading public health experts" that would advise their administration on combating the pandemic.

The Dow Jones Industrial Average surged 5.50% or 1,563 points at the opening, reaching an all-time high, as American Express Co. gained 15.69%. The Nasdaq 100 went up by 0.99%, with Ross Stores Inc. growing by 26.18%. The S&P 500 jumped by 3.89% as Carnival Corporation advanced by 40.67%.

The euro rose by 0.32% against the dollar to sell for $1.19161 at 9:26 am ET. The pound sterling increased by 0.39% against the greenback to exchange hands for $1.32038 at 9:27 am ET.

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Author:
Breaking the News / JR