NEW YORK, July 13 — Wall Street’s main indexes rose today with the Nasdaq at a fresh intraday record high as investors cheered signs of progress in Covid-19 vaccine development and an upbeat start to the second-quarter earnings season by Pepsi. Shares of German biotech firm BioNTech jumped 10.9...
Traders work on the floor of the New York Stock Exchange during the opening bell, March 10, 2020 in New York. — AFP pic
“There are renewed expectations that the Pfizer vaccine will be ready for approval by the end of October, which is sooner than expected — so that’s very good news,” said Thomas Hayes, managing member at Great Hill Capital LLC in New York. Still, investors are bracing for what could be the sharpest drop in quarterly earnings for S&P 500 firms since the financial crisis, according to IBES Refinitiv data. Results from big banks will be in focus this week.
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