Coronavirus Vaccine Hopes Send Markets Mostly Higher; NIO, Hertz Earnings Move Shares
The stock market continued a pattern on Tuesday that we've seen play out repeatedly. Part of the market soared, looking at the release of a coronavirus vaccine in Russia as evidence that things might return to normal sooner rather than later. Yet another part of the stock market fell, as the prospects for continuing to profit from the consequences of the coronavirus pandemic seemed to lessen.
Just after 11 a.m. EDT today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 325 to 28,117, and the S&P 500 (SNPINDEX: ^GSPC) picked up 15 points to 3,376. But the Nasdaq Composite (NASDAQINDEX: ^IXIC) remained a modest loser, falling 18 points to 10,951.
Earnings continue to be a focus for investors, especially for those interested in stocks that are getting a lot of attention from the broader investment community. Chinese electric vehicle manufacturer NIO (NYSE: NIO) saw extreme volatility in its stock following its release of second-quarter financials. Hertz Global Holdings (NYSE: HTZ) saw the same pattern play out, with the rental car company's stock jumping out to big gains that largely evaporated as the morning went on.
Source Fool.com
