U.S. stocks rose slightly on Wednesday as investors digested more positive news on the coronavirus vaccine front.
The Dow Jones Industrial Average picked up 83.72 points to 29,867.07.
The S&P 500 nicked higher 5.75 points to 3,615.28.
The NASDAQ recovered 12.9 points to 11,912.24,
Pfizer released the final data on its vaccine candidate with BioNTech, which turned out even better than the initial data. The companies said the vaccine was 95% effective in preventing Covid-19 and fended off severe infections in the trial, adding that it plans to submit an application for emergency use authorization “within days.”
Dow-member Boeing jumped as much as 4% as the Federal Aviation Administration lifted its ban on its 737 Max after a 20-month grounding following two deadly crashes. The stock last traded up 2%.
Meanwhile, Target shares rose about 2% after the retailer’s third quarter earnings topped estimates because of booming digital sales.
Lowe’s shares dropped 6% after the home improvement retailer reported third-quarter earnings and a profit outlook slightly short of estimates.
Stocks are having a strong month on the back of positive developments about Covid-19 vaccines. The Dow is up more than 12% and the S&P 500 is up more than 10% in November. The NASDAQ is up more than 9%, lagging as investors ditch technology shares for cyclical plays.
Prices for the 10-Year Treasury were unchanged, keeping yields at Tuesday’s 0.87%.
Oil prices prospered 68 cents to $42.11 U.S. a barrel.
Gold prices slipped $5.80 to $1,879.30