NewsWorldWall Street ends sharply higher

Wall Street ends sharply higher

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WALL STREET TERMINATES A SIGNIFICANT INCREASE

NEW YORK (Reuters) – The New York Stock Exchange came back to life on Monday after a turbulent week as investors revived optimism after the final approval of Pfizer-BioNTech’s COVID-19 vaccine by the U.S. health authority , which could revive the vaccination campaign in the United States.

The Dow Jones index gained 0.61%, or 215.63 points, to 35,335.71 points.

The larger S & P-500 gained 37.86 points, or 0.85%, to 4,479.53 points.

The Nasdaq Composite set a new record, advancing 227.99 points (1.55%) to 14,942.65 points.

Major New York Stock Exchange indices had lost 0.6% to 1.1% last week on the rise in COVID-19 cases coupled with fears of a slowing global recovery as the Federal Reserve plans to reduce its massive support for the US economy.

Market sentiment improved a bit on Friday, however, with remarks by Robert Kaplan, chairman of the Dallas Fed, on the possibility that the impact of the Delta variant of the coronavirus could call into question its position in favor of declining support. from the Fed to the economy.

The momentum continued on Monday thanks to cheap purchases, then increased after the final approval by the Food and Drug Administration (FDA) of the vaccine developed by Pfizer and BioNTech for people over the age of 16 .

Pfizer (+ 2.5%) and BioNTech stocks listed on Wall Street (+ 9.6%) particularly benefited from this announcement, as did their rival Moderna (+ 7.5%) whose vaccine against COVID- 19 has not yet finalized.

Driven by the rise in oil prices, the oil giants Exxon Mobil and Chevron for their part gained 4.1% and 2.6% respectively.

The speech of Fed President Jerome Powell next Friday at the annual meeting of central bankers in Jackson Hole is the main meeting of the days to come and a source of possible further turbulence in the financial markets.

(Stephen Culp, French version Tangi Salaün)

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