Tuesday’s Headlines: Potential Vaccine Sends Market Soaring
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Moving Down ⬇️
1. Wall Street logged its best day in over a month on Monday as news from a Moderna trial stoked optimism about a potential coronavirus vaccine. The Dow climbed 3.9%, the S&P 500 gained 3.2%, and the Nasdaq jumped 2.4% following Moderna’s phase one vaccine results which had resulted in trial participants developing coronavirus antibodies. Moderna shares soared 20% following the news, reminiscent of Gilead’s drug trial success last month. Read the full report here.
2. Shares of Disney climbed 7.19% on Monday as the entertainment giant said it was opening a part of Disney World in Florida soon. Disney said it would open Disney Springs — a shopping, dining, and entertainment complex — at Walt Disney World, on Wednesday as part of a phased reopening of the theme park, with third-party businesses opening their doors. Disney’s stock price has risen 15% in the past month, continually recovering from its March lows, but still remains 14% down year-on-year. Get the full story here.
3. Event management software Eventbrite saw its best day ever on Wall Street after jumping 24.6% on Monday. The surge comes after the stock was upgraded by analysts from ‘hold’ to ‘buy’, citing that the company’s 40% drop since last week's earnings was an overreaction. While not out of the woods yet, Eventbrite's valuation has likely priced in the most extreme scenario regarding coronavirus, which is looking more unlikely now considering the early success of trial vaccines. Get the complete report here.
There is 1 stock in the MyWallSt app that will report earnings today:
The Home Depot