Wednesday, July 01, 2020 7:37:15 PM
Pfizer’s (PFE) coronavirus vaccine candidate showing progress in a trial phase — and the Federal Reserve’s pledge to keep the monetary spigots open “for years” — sent the Nasdaq Composite (QQQ) to a record close.
A broad rally in tech stocks carried Amazon (AMZN), Netflix (NFLX) Tesla (TSLA) and Microsoft (MSFT) to new record highs, with those companies riding the momentum of business models that are mostly perceived as coronavirus-proof. With the exception of Tesla, the high-flying tech shares are thriving from large numbers of consumers still working remotely.
Stocks closed out a breathtaking second-quarter rally that took them to their best overall quarter since 1998, and best second quarter on record. During that time frame, the S&P 500 saw a near-20% run-up during the April through June period, while the Dow and Nasdaq rose about 17.5% and 30%, respectively.
The historic rally was fueled by a massive fiscal and monetary policy response designed to bolster the virus-stricken economy, and as states and cities across the country began easing their lockdowns. Minutes from the Fed on Wednesday showed the central bank intends to keep its foot on the easing pedal for “years” as the recovery takes shape.
Why Inovio Pharmaceuticals Stock Is Crashing Today
https://www.fool.com/investing/2020/07/01/why-inovio-pharmaceuticals-stock-is-crashing-today.aspx?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Shares of Inovio Pharmaceuticals (NASDAQ:INO) were crashing 14.6% lower as of 10:55 a.m. EDT on Wednesday after falling as much as 20.7% earlier in the day. The drop stemmed from two factors. First, investors continued to be unimpressed by Inovio's lack of detail on Tuesday in its announcement of interim early-stage study results for COVID-19 vaccine candidate INO-4800. Second, the FDA issued an update on Tuesday that could mean no COVID-19 vaccine will be approved this year.
https://finance.yahoo.com/news/coronavirus-update-pfizer-spurs-new-hope-in-vaccine-race-as-nyc-pulls-back-on-dining-plans-155021546.html
A broad rally in tech stocks carried Amazon (AMZN), Netflix (NFLX) Tesla (TSLA) and Microsoft (MSFT) to new record highs, with those companies riding the momentum of business models that are mostly perceived as coronavirus-proof. With the exception of Tesla, the high-flying tech shares are thriving from large numbers of consumers still working remotely.
Stocks closed out a breathtaking second-quarter rally that took them to their best overall quarter since 1998, and best second quarter on record. During that time frame, the S&P 500 saw a near-20% run-up during the April through June period, while the Dow and Nasdaq rose about 17.5% and 30%, respectively.
The historic rally was fueled by a massive fiscal and monetary policy response designed to bolster the virus-stricken economy, and as states and cities across the country began easing their lockdowns. Minutes from the Fed on Wednesday showed the central bank intends to keep its foot on the easing pedal for “years” as the recovery takes shape.
Why Inovio Pharmaceuticals Stock Is Crashing Today
https://www.fool.com/investing/2020/07/01/why-inovio-pharmaceuticals-stock-is-crashing-today.aspx?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Shares of Inovio Pharmaceuticals (NASDAQ:INO) were crashing 14.6% lower as of 10:55 a.m. EDT on Wednesday after falling as much as 20.7% earlier in the day. The drop stemmed from two factors. First, investors continued to be unimpressed by Inovio's lack of detail on Tuesday in its announcement of interim early-stage study results for COVID-19 vaccine candidate INO-4800. Second, the FDA issued an update on Tuesday that could mean no COVID-19 vaccine will be approved this year.
https://finance.yahoo.com/news/coronavirus-update-pfizer-spurs-new-hope-in-vaccine-race-as-nyc-pulls-back-on-dining-plans-155021546.html
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