Financials, energy lead stocks higher in holiday-shortened week – Fox Business

Stocks were higher on Monday on gains in the financial and energy sectors, coupled with positive news from another drugmaker announcing results for its coronavirus vaccine.

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Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 29544.01 +280.53 +0.96%
JPM JP MORGAN CHASE & CO. 117.62 +3.02 +2.64%
V VISA INC. 207.96 +4.04 +1.98%
CVX CHEVRON CORP. 89.64 +3.85 +4.49%
SP500 S&P 500 3571.96 +14.42 +0.41%

The Dow Jones Industrial Average was up more than 240 points, led by gains in JPMorgan, Visa and Chevron.

The S&P 500 was higher by 0.4%.

The tech-heavy Nasdaq Composite was slightly higher, up 0.2%, despite stocks such as Apple, Microsoft, Facebook and Google falling 0.5% or more.

Ticker Security Last Change Change %
I:COMP NASDAQ COMPOSITE INDEX 11875.643121 +20.67 +0.17%
AAPL APPLE INC. 114.29 -3.05 -2.60%
FB FACEBOOK INC. 268.57 -1.12 -0.42%
GOOGL ALPHABET INC. 1,723.48 -12.90 -0.74%
MSFT MICROSOFT CORP. 209.56 -0.82 -0.39%

DOW DROPS 219 POINTS AS STOCKS END WEEK LITTLE CHANGED

COVID-19 PROGRESS

Ticker Security Last Change Change %
AZN ASTRAZENECA PLC 54.39 -0.91 -1.65%
PFEBNTX n.a. n.a. n.a. n.a.
MRNA MODERNA INC. 101.21 +3.60 +3.69%

U.K. drugmaker AstraZeneca announced that the vaccine it is developing with Oxford University can be up to 90% effective in late-stage trials.

The efficacy rate can range between 62% and 90%, depending upon the dosage. This is the third vaccine, behind that from Pfizer and its partner, BioNTech, and Moderna, to show strong efficacy results in Phase 3 trials.

Shares of AstraZeneca were slightly lower on Monday despite the good news.

The news comes after Johns Hopkins University announced on Saturday that the U.S. surpassed 12 million coronavirus cases, the most impacted country in the world.

SNAP GOES AFTER TIK-TOK

Snap announced it was launching Spotlight, an entertainment platform for user-generated content, similar to TikTok.

Shares of Snap, led by CEO Evan Spiegel, were rising more than 3% in early Monday trade.

ECONOMIC REPORTS

The economic calendar is light on Monday, with a pair of reports showing the latest data for November, coming in ahead of expectations.

Markit released the Manufacturing PMI and Services PMI reports, with readings coming in at 56.7 and 57.7, respectively. Economists surveyed by Refinitiv expected readings of 53 and 55.

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West Texas Intermediate crude oil rose 51 cents to $42.93 per barrel. In other commodities, gold plunged 2.3% to $1,829.70 an ounce.

European indexes rose on Monday, with the STOXX Europe 600 rising 0.1% and Germany’s DAX climbing 0.6%. The other major indexes, France’s CAC-40 and the U.K.’s FTSE 100, were up similar amounts.

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Financials, energy lead stocks higher in holiday-shortened week – Fox Business

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