Stocks climb on Wall Street along with hopes for a vaccine
NEW YORK (AP) — Stocks rose across the board on Wall Street Wednesday following some encouraging, though very early results in developing a coronavirus vaccine.
Rearchers said late Tuesday that one developed by the National Institutes of Health and Moderna revved up people’s immune systems in a preliminary test, as hoped.
The S&P 500 rose 0.9% after being up as much as 1.3% during the morning. Small-company stocks rose much more than the rest of the market, a sign of of rising expectations for the economy.
Cruise lines, hotels and other companies that would benefit greatly from the economy reopening rose sharply.