Vaccine hopes lift Dow Jones above 28,000 points

Economies.com
2020-08-11 14:10PM UTC

Most of the US stock indices opened higher on Tuesday, after the release of upbeat economic data, and amid growing optimism about a promising coronavirus vaccine.

 

Russian President Vladimir Putin officially announced that  that Russia has approved a COVID-19 vaccine, adding that Moscow will start the mass production of the vaccine, and will start campaigns to offer the vaccine to people to terminate the coronavirus.

 

Data showed today the US PPI rose 0.6% in July, beating forecasts of 0.3%, and core reading (excluding energy and food prices) rose 0.5%, beating forecasts of 0.1%.

 

As for stocks, Dow Jones rose 1% or 275 points to 28,052, and S&P 500 rose 2 points to 3,362, while Nasdaq fell 1% or 110 Points to 10,861.

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