Market roundup for Nov. 16
The U.S. stock market closed at record levels to begin the week; the main reason is Moderna’s announcement that its COVID-19 vaccine had more than 94.5% effectiveness in clinical trials. Suddenly, the battle against COVID-19 turned into two against one.
The Moderna announcement follows Pfizer and BioNTech’s discovery last week, which obtained similar success rates.
Investors reacted positively, allowing the Dow Jones and the S&P 500 to break their record highs. This recent development doubles the hopes to put the pandemic nightmare behind us after the world finally manages the disease.
Moderna Inc. (MRNA) is a public company, and it creates metamorphic transformative therapeutics formed using messenger RNA and mRNA. Moderna uses gene and cellular information to develop vaccines. The firm develops all kinds of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, autoimmune and cardiovascular diseases.
The stock closed 11/16/20 at $97.52, an increase of $21.47 since last Tuesday.
Wall Street Summary for November 16, 2020,
- The Dow Jones Industrial Average closed at 29,950.44, up 470.63 points, or 1.6%.
- The Standard & Poor’s 500 closed at 3,626.91, up 41.76 points, or 1.16%.
- The Nasdaq Composite Index closed at 11,924.13, up 94.84 points, or 0.8%.
- The Birling Puerto Rico Stock Index closed at 1,909.00, up 39.94 points, or 2.14%.
- The U.S. Treasury 10-year note closed up at 0.91%
- The U.S. Treasury 2-year note closed up at 0.19%