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The Stock Exchanges in New York Started Trading Week With Gains Monday

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The stock exchanges in New York started trading week with gains Monday. Sentiment on Wall Street is helped by a decline in coronavirus cases.

 

In addition, President Jerome Powell of the Federal Reserve said that the US central bank has enough room for more stimulus.

Shortly after the opening bell, the Dow-Jones index was 3.2 percent higher at 23,424 points. The broad S&P 500 rose 2.6 percent to 2,939 points, and technology gauge Nasdaq gained 1.9 percent to 9,182 points.

Powell told TV channel CBS that the US central bank is “far from over.” According to the central bank head, many stimulus options are still open, such as expanding existing programs for cheap loans or starting new programs.

Pharmaceutical Moderna won about 23 percent in the first few minutes of trading.

The company says it has had promising results in an initial test of its corona vaccine on humans and is facing a price increase. There were also a few side effects. The next test will start in July.

Google mother Alphabet (minus 1 percent) is also in the spotlight. US authorities are reportedly about to sue the tech group for distorting competition.

President Donald Trump also warned other social media companies such as Facebook and Twitter that measures will be taken soon. Their shares nevertheless went up to almost 4 percent.

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