S&P, Nasdaq renewed highs on hopes for successful fight against COVID-19

S&P, Nasdaq renewed highs on hopes for successful fight against COVID-19

S&P, Nasdaq renewed highs on hopes for successful fight against COVID-19

NEW YORK (Reuters) – The S&P 500 and Nasdaq both hit all-time highs on Monday amid hopes of progress on finding an effective response to the coronavirus.

Markets around the world have reacted with optimism to the FDA's decision to authorize the treatment of coronavirus with plasma from recovered patients.

However, the World Health Organization was wary of approving this method, citing “poor quality” evidence that it works.

In addition, market sentiment was positively influenced by information that the Trump administration is considering accelerating the use of an experimental COVID-19 vaccine being developed by AstraZeneca (LON: AZN) AZN.L and Oxford University.

The Dow Jones rose 1.35% to 28.308.46, the S&P 500 rose 1.00% to 3.431.28, and the Nasdaq Composite added 0.6% to 11.379.72.

Apple Inc (NASDAQ: AAPL) rose 1.2%, breaking the $ 500 per share mark for the first time and providing the largest gains for the S&P 500 and Nasdaq.

Boeing (NYSE: BA) rose 6.4%, pushing the Dow higher.

(Stephen Culp; Translated by Olga Beskrovnova; Editor Marina Bobrova)

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