Dow Jones Gains on Vaccine News; Goldman Sachs Stock Jumps on Strong Earnings, While UnitedHealth Slumps

The Dow Jones Industrial Average (DJINDICES: ^DJI) breached 27,000 early Wednesday, but the rally had partly faded by lunchtime. The Dow was up around 0.5% by noon EDT today.

There was some good news related to coronavirus vaccines that helped drive the market higher. The results of a phase 1 study for a vaccine candidate from Moderna showed that neutralizing antibodies were found in all 45 participants. A phase 2 study is ongoing, and a phase 3 study is scheduled to start on July 27.

It may take an effective vaccine to end the pandemic crisis in the United States, given the surging case numbers in various states. The U.S. reported more than 67,000 confirmed cases of COVID-19 on Tuesday, a new record.

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Source Fool.com