Stocks Jump to More Than Month High; Dollar Falls: Markets Wrap
- Moderna surges after trial results, reopening trade flourishes
- Yields on Treasuries are little changed; Crude oil increases
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U.S. stocks climbed to a more than a one-month high amid optimism about progress in developing a vaccine for coronavirus. The dollar weakened and crude oil increased.
The S&P 500 gained 0.9%, briefly drifting back into positive territory for the year. Varying reports on trade tensions between the U.S. and China buffeted shares. The tech-heavy Nasdaq 100 swung between gains and losses all day before closing in the green as some investors rotated into value shares. The Federal Reserve said the economy showed signs of a nascent recovery at the beginning of July.