Stocks are racing higher on hopes for a new coronavirus vaccine.
The Dow Jones Industrial Average rose 2.5%, just over 600 points, at Tuesday’s open, while the S&P 500 was up 2.2% and the Nasdaq gained 1.6%.the first human study of its experimental coronavirus vaccine.that it is working in collaboration with scientific research organization IAVI to develop a vaccine.
Last week, another biotech company, Moderna, reported positive results from its vaccine trial; In total, there are 10 vaccines currently in clinical trials andProgress is also being made on the reopening front, lifting markets higher as several states start to lift lockdowns and allow businesses to resume.
Stocks that would benefit from a reopening jumped on Tuesday morning, including MGM Resorts, Carnival, Norwegian Cruise Line, United Airlines and Southwest Airlines.
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