US stocks lifted by COVID-19 vaccine progress

Wall Street stocks opened decisively higher Monday as progress on a coronavirus vaccine offset unease at worsening outbreaks in many parts of the United States.

About 10 minutes into trading, the Dow Jones Industrial Average stood at 26,298.79, up 0.9 percent.

The broad-based S&P 500 gained 0.8 percent to 3,210.72, while the tech-rich Nasdaq Composite Index jumped 1.4 percent to 10,766.29, rising further from record levels.

But investors also got some good news on the COVID-19 front, with Pfizer and BioNTech announcing that two of four vaccine candidates for the coronavirus received “Fast Track” designation from the US Food and Drug Administration.

If ongoing tests are successful, the companies could manufacturer up to 100 million doses by the end of 2020, said a joint press release.

This week’s calendar includes a trove of earnings announcements from large banks and a handful of other companies. Other events on the calendar include reports on retail sales and consumer prices.

Comments

NSE vows to enhance retail investment opportunities

NSE vows to enhance retail investment opportunities The Nigerian Stock Exchange has expressed its commitment to redefining and improving investors’ overall experience in the Nigerian capital market, and ensuring that it remains modern, convenient and secure. This was highlighted at the inaugural edition of the Retail Investors’ Webinar hosted by the Exchange in collaboration with the Nigerian International Securities Limited on Monday. The event, with the theme ‘Capital market investing in a digital age’, was supported by the Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria. Speaking during the webinar, the Chief Executive Officer, NSE, Mr Oscar Onyema, said, “Investor participation is central to the growth and sustainable development of any economy. “The Exchange is, therefore, committed to facilitating conversations that will expound on the retail investment opportunities available in the capital market and the chann...

NAIRA WEAKENS TO LOWEST IN THREE YEARS

NAIRA WEAKENS TO LOWEST IN THREE YEARS The Naira yesterday weakened to the lowest in over three years in the parallel market due to increased demand for dollars amid foreign-currency shortages. The local currency depreciated to N495 to a dollar yesterday, lowest since February 23, 2017, widening the gap with the official rate of N379.5 to over 30 per cent. The currency traded in the interbank market at 389.74 as of 4:54p.m. in Lagos. Agency reports quoted traders as alleging a groundswell of diversion of dollars, a development which heightened scarcity of the green back in the parallel market this week. There is a diversion of inflows away from official channels to the parallel market due to the gap in rates, Murega Mungai, trading desk manager for Aza Finance said in a note Thursday. The market spread has created arbitrage opportunities for recipients of remittances such as exporters and private individuals. Pent up demand in the foreign exchange market is not unprecedente...

ACCESS BANK TO HOLD FOURTH EDITION OF BUSINESS CLINIC.

ACCESS BANK TO HOLD FOURTH EDITION OF BUSINESS CLINIC. The MSME arm of one of the leading New Generation Banks in Nigeria, Access Bank Plc will hold its fourth edition of its specialized virtual business training session on Thursday 24 th September 2020. The Sessions which is tagged Access Digital Business Clinic is open for Macro, Small and Medium Entrepreneurs from across Nigeria According to the facilitators of the training, the clinic is a one-on-one business consulting and advisory sessions with experts, who will diagnose and proffer practical and tailor-made solutions to the challenges that MSME owners might be experiencing in the course of running your business. However to gain access into the Business Clinic and to have a better understanding of what to expect at the Business clinic, the bank will be holding a virtual technical test session on Tuesday, 22 nd September, 2020, time: 2:00PM - 2:30PM. To register or join the Live Test Session visit: https://te...

MAW Royal Media

Search This Blog