Stocks climb to record highs as coronavirus vaccine hopes rise

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U.S. stock markets hit record highs on Monday after a report said a COVID-19 vaccine could come before the November election and President Trump announced a “major breakthrough” in the fight against the virus.

The Dow Jones Industrial Average gained up to 234 points, or 0.84%, while the S&P 500 and Nasdaq Composite rose 0.85% and 1.33% respectively, stretching further into territory record.

Teleprinter security Latest Change % Change
IS: DJI MEDIUM DOW JONES 28174,6 +244,27 + 0,87%
SP500 S&P 500 3421,85 +24,69 + 0,73%
I: COMP INDEX COMPOSITE NASDAQ 11377.455801 +65,65 + 0,58%

The first gains came after a Financial Times report said AstraZeneca plc’s investigational COVID-19 vaccine was being considered by Trump for fast-track designation with the aim of bringing a vaccine to market ahead of the November election.

Teleprinter security Latest Change % Change
AZN API ASTRAZENECA 56,69 +0,98 + 1,76%

The report added to investor enthusiasm that emerged Sunday night after Trump announced emergency authorization to use convalescent plasma to treat patients with COVID-19.

“It’s a potent therapy that transfuses very, very potent antibodies from the blood of recovered patients to help treat patients battling a current infection,” Trump said just over 24 hours before the start of the Republican National Convention .

Elsewhere on the vaccine front, Moderna Inc. has announced recruitment for its Phase 3 COVID-19 vaccine trial, which is scheduled to begin in September, has crossed the 40% threshold.

Other drug manufacturers producing COVID-19 vaccine candidates, including Pfizer Inc., BioNTech SE and Johnson & Johnson, were also targeted.

Teleprinter security Latest Change % Change
RNAm MODERNA INC. 64.04 -2,41 -3,63%
PFE PFIZER INC. 38,59 -0,29 -0,76%
BNTX BIONTECH 70,29 -2,73 -3,74%
JNJ JOHNSON & JOHNSON 150,68 -1,07 -0,71%

Meanwhile, Apple Inc. has hit record highs as investors rushed past Monday’s deadline to enter the 4-to-1 Division, which will be held at close of business on Friday.

Tesla Inc. shares hit their own record high after Wedbush said they could reach $ 3,500 each in a bullish scenario. The electric carmaker will split its inventory 5 to 1 at Friday’s close.

Teleprinter security Latest Change % Change
AAPL APPLE INC. 507,18 +9,70 + 1,95%
TSLA TESLA INC. 2 015,99 -33,99 -1,66%
BX GROUPE BLACKSTONE 53,59 +0,61 + 1,16%

In mergers and acquisitions, private equity firm Blackstone Group Inc. has entered into an agreement to acquire the consumer healthcare business of Japanese drug maker Takeda Pharmaceutical Co. for 242 billion Japanese yen (2 , $ 3 billion).

On the commodity side, gold jumped from $ 13.90 to $ 1,960.90 per ounce while West Texas Intermediate crude oil rose 45 cents to $ 42.79 per barrel as two storms have forced production offline in the Gulf of Mexico.

US Treasuries were little changed, with the yield on the 10-year note hovering around 0.64%.

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In Europe, the German DAX accelerated the advance, up 2.45%, while the French CAC and the UK FTSE rose 2.31% and 1.91% respectively.

Asian markets were higher across the board, with Hong Kong’s Hang Seng climbing 1.74%, Japan’s Nikkei 0.28% and China’s Shanghai Composite 0.14%.

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