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In the discussion thread: Stock market exploding up today? [View all]

Response to at140 (Original post)

Mon May 18, 2020, 01:36 PM

6. fwiw, here's what cnbc says:

always take with a big grain of salt the "reasons" offered for why the stock market moves on any one day.


Stocks rallied on Monday, rebounding from losses last week, as news from a Moderna trial stoked optimism about a potential coronavirus vaccine.

The Dow Jones Industrial Average traded 800 points higher, or 3.4%. The S&P 500 gained 3% while the Nasdaq Composite advanced 2.5%.

Moderna shares rallied 26% after the company reported “positive” phase one results for a potential coronavirus vaccine. The company said that after two doses all 45 trial participants had developed coronavirus antibodies.

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