Wall Street staged a huge rally during Monday's session, with the Dow Jones and S&P 500 posting their best trading day in over a month. Investors traded with positive news surrounding Moderna's
Powell stated in a "60 Minutes" interview that "theres a lot more [the Federal Reserve] can do" to help the economy. On Monday, Moderna reported positive phase one results for its potential coronavirus vaccine, with the biotech stating that early participants had developed antibodies after two doses.
Here's how the market settled on Monday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, investment banks--Bank of America
In Stock Sector News, all sectors rallied with the broader market during Monday's session. The performance gains were as follows: Energy +7.55%, Industrials +6.61%, Financials +5.32%, Real Estate +4.93%, Materials +4.56%, Utilities +4.14%, Consumer Discretionary +3.20%, Information Technology +2.56%, Communication Services +2.15%, Consumer Staples +1.66% and Health Care +0.94%.
In Commodity and Currency News, June contracts for crude increased on Monday as U.S. shale cuts were deeper and faster than expected. West Texas Intermediate
As Wall Street moves into Tuesday, investors will focus on Treasury Secretary Steven Mnuchin and Powell's testimony before Congress as well as corporate quarterly earnings from companies like Home Depot