The Stock Market Is Bouncing as Biotechs Climb on Coronavirus Vaccine Deals
The stock market has performed well lately, with even occasional downturns often reversing course quickly. That's what investors saw on Tuesday morning, as all three major market benchmarks started the morning lower before starting to regain ground. Just after 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was still down 144 points to 26,143. However, the S&P 500 (SNPINDEX: ^GSPC) gained two points to 3,181, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) led the way higher, picking up 72 points to 10,506.
The biotech industry has been one of the driving forces behind the recovery in the stock market since March. Efforts to find treatments for the COVID-19 pandemic have taken top priority at many companies in the space, and today, Novavax (NASDAQ: NVAX) and Regeneron Pharmaceuticals (NASDAQ: REGN) got good news from the federal government.
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Source Fool.com
