The latest financial news from the reporters at Yahoo! Finance.
Wall Street rallies on Oxford/AstraZeneca vaccine; Yellen to Treasury: Nov 23
Stocks advanced on Monday, with encouraging developments in the fight against COVID-19 providing impetus that carried major benchmarks within view of new record highs. Wall Street added to recent gains as investors weigh a wave of new COVID-19 infections — which are pushing up deaths and hospitalizations across the U.S. — against the rapidly unfolding timetable for the deployment of a vaccine.
Black Friday sales, Consumer Confidence: What to know in the week ahead
This week will be holiday-shortened as investors take off Thursday and part of Friday in observance of the Thanksgiving holiday in the U.S. The New York Stock Exchange and Nasdaq will each close all day on Thursday, and trading will end early at 1 p.m. ET on Friday. Bond trading is also set to close early at 2 p.m. ET on Friday. While investors take a pause, retail companies are gearing up for what in typical years tends to be one of their busiest weeks.
Dow turns positive, shaking off earlier declines as virus spread triggers more restrictions: Nov 19
The S&P 500 and Dow reversed earlier losses to push into slightly positive territory, as investors weighed rising COVID-19 cases in the U.S. and increased restrictions against hopes for an effective vaccine. For the past few days, the bad outweighed the good. On Wednesday, the Dow posted its biggest loss in three weeks, dropping nearly 350 points, or 1.2%, amid more signs of deterioration in the battle to keep COVID-19 cases at bay.
Stocks turn negative despite more positive vaccine trial data: Nov 18
Stocks fell Wednesday afternoon, reversing earlier gains after new data from Pfizer (PFE) helped momentarily stoke investor confidence that an effective vaccine will become available in the coming months. The pharmaceutical company reported Wednesday that it had concluded its Phase 3 trial of its vaccine candidate, and found its inoculation to be 95% effective against COVID-19.
Stocks fall as investors pause after vaccine-fueled rally: Nov 17
Stocks fell Tuesday as momentum from Monday’s rally lost steam. The S&P 500 and Dow each declined, after both indices posted record closing highs a day earlier. After Moderna’s (MRNA) released preliminary data Monday morning showing its vaccine candidate was 94.5% effective in preventing coronavirus infections, investors are set to watch to see whether equities follow a similar playbook as they did last week, when news that Pfizer’s (PFE) vaccine candidate was 90% effective in preventing COVID-19 first emerged.
Stock market news updates, November 16, 2020: S&P 500, Dow post record closing highs after Moderna releases upbeat vaccine efficacy data
The Dow and S&P 500 soared to record closing highs on Monday after Moderna (MRNA) became the latest major drug-maker to announce upbeat data for its COVID-19 vaccine candidate, building on hopes that an effective inoculation will soon be available. The Dow rose more than 450 points, or 1.5%, to top both its former record closing and intraday high on Monday. The S&P 500 also increased to a record close.