Dow jumps 900 points after promising coronavirus vaccine trial

Fearless Girl statue outside the U.S. stock exchange wears a mask.
(Image credit: JOHANNES EISELE/AFP via Getty Images)

Some good news has sent the stock market soaring for the first time in months.

After biotechnology company Moderna announced positive results in its COVID-19 vaccine trial, stocks in the company jumped up more than 19 percent. That helped send the Nasdaq Composite up 2.4 percent for the day, while the S&P 500 rose 3.1 percent and the Dow Jones Industrial Average shot up 3.8 percent.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Explore More
Kathryn Krawczyk

Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.