Nasdaq jumps back above 11,000, S&P 500 nears record high

2020-08-12 23:55:37 GMT (Economies.com)
Nasdaq jumps back above 11,000, S&P 500 nears record high

US stock indices rose on Wednesday, lifted by growing optimism about the promising coronavirus vaccines, which helped Nasdaq to jump back above 11,000 points, and S&P 500 to close near its all-time highest by only 6 points.

 

The Trump administration announced on Tuesday a $1.5 billion deal with Moderna to buy 100 million doses of its coronavirus vaccine..

 

This came after American doubts about the vaccine announced by Russian President Vladimir Putin, which he as described as "the world's first," and claimed that it provides immunity against the virus for at least 2 years.

 

Data showed today the US consumer price index rose 0.6% in July, and the Federal budget balance reached a surplus of $63 billion, beating forecasts of of a deficit by $193 billion.

 

To the oil market, WTI crude September futures (NYMEX) rose 2.6% or $1.06, to close at $42.67 a barrel, after it hit a high of $42.7 and a low of $41.5.

 

Brent October futures rose 2.1% or 93 cents, to $45.43 a barrel, with a high of $45.5 and a low of $44.4.

 

As for stocks, Dow Jones rose 1% or 290 points to settle at 27,977, with a day high of 28,043 and a low of 27,843.

 

Nasdaq rose 2.1% or 229 points to 11,012, after it hit a high of 11,036 and a low of 10,877.

 

S&P 500 rose 1.4% or 46 points to close at 3,380, with a high of 3,388 and a low of 3,355.

 
 
 
  Symbol Last Change Chg.%
1.1730
0.0059
0.5025%
1.2924
0.0056
0.4367%
Tadawul
8299.08
16.57
0.20%
23.329
-0.027
0.116%
39.935
-0.355
0.881%
40.95
-0.08
0.19%
1887.900
15.205
0.812%
 
 
US
 
Europe
 
Asia