business forward

U.S. Stocks Boosted by FDA’s Covid-19 Vaccine Approval - The Wall Street Journal

U.S. stocks edged up Monday, boosted by technology stocks and full approval for Pfizer Inc.’s Covid-19 vaccine.

The SP 500 ticked up 37.86 points, or 0.9%, to 4479.53, led by energy, industrials and technology. The Nasdaq climbed 227.99 points, or 1.5%, to 14942.65, a record close. The last time Nasdaq rose more than 1% on consecutive trading days was the three trading days ending April 5.

Meanwhile, the Dow Jones Industrial Average rose 215.63 points, or 0.61%, to 35335.71.

The Covid-19 vaccine from Pfizer and partner BioNTech received full approval from U.S. regulators, which many public health officials and vaccine experts hope will encourage hesitant populations to get the shot. Pfizer rose $1.21, or 2.5%, to $49.93 and BioNTech climbed $33.42, or 9.6%, to $382.10.

“Many believe that [vaccine approval] will create that much more momentum in vaccine trends, especially in those states and population groups that are lagging,” said Joe Amato, chief investment officer at Neuberger Berman.