NEW YORK: The S&P 500 and the Dow reversed course to rise on Tuesday, led by drugmaker Johnson & Johnson following encouraging news on its Covid-19 vaccine, while the Nasdaq hit a record high. Johnson & Johnson gained 1.9% after the company said it could obtain late-stage trial results of a single-dose Covid-19 vaccine it is developing, earlier than expected.
Pfizer Inc also rose 3.2% as it cleared the next hurdle in the race to get its Covid-19 vaccine approved for emergency use, after the US health regulator released documents raising no new safety or efficacy issues. At 12:21 p.m. ET the Dow Jones Industrial Average was up 88.62 points, or 0.29%, at 30,158.41, the S&P 500 was up 5.21 points, or 0.14%, at 3,697.17 and the Nasdaq Composite was up 5.85 points, or 0.05%, at 12,525.79.
Boeing Co slipped 0.6% after company data showed the planemaker lost another 63 orders for its newly ungrounded 737 MAX jet in November. Tesla Inc fell 1.9% after the electric-car maker unveiled a $5 billion capital raise, its second such move in three months. Drug developer Moderna Inc climbed 4.2%, after Switzerland increased its confirmed orders for its Covid-19 vaccine doses to 7.5 million from 4.5 million.
Comments
Comments are closed.