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

The S&P 500 ticked nearly 1% higher, pointing to the broad market index extending Friday’s 0.8% gain. The Nasdaq climbed 1.4%, indicating a larger rise in technology stocks. Meanwhile, the Dow Jones Industrial Average also rose 0.7%.

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 2.5% and BioNTech climbed 9.1%.

“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.

Investors also are focused on the Federal Reserve’s annual…

Read more…


Comments are closed.