US opens higher after upbeat COVID shot news

Tuesday, 24. August 2021 15:31

Major stock indexes in the United States opened higher on Tuesday as President Joe Biden's Chief Medical Advisor Dr. Anthony Fauci said coronavirus vaccines made by Moderna and Johnson & Johnson should be approved soon, following the full authorization of the Pfizer shot. India's first mRNA jab, made by Gennova Biopharmaceuticals Ltd. was found to be safe and effective in its Phase I trial, while French company Valneva expects its vaccine to be over 80% effective against COVID-19. On the data front, the new home sales report is expected after the opening bell.

The Dow Jones rose by 0.19% at 9:30 am ET, with Boeing Co. adding 0.64%. The Nasdaq 100 increased by 0.25% as Pinduoduo soared 15.68%. The S&P 500 was up by 0.17%, led by Best Buy Co. Inc., which jumped 5.75% after its earnings report.

The euro traded flat compared to the dollar and went for 1.17467 at 9:31 am ET.

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Breaking the News / DJ