Investors Return to Tech, NASDAQ Grows by Leaps and Bounds

The S&P 500 and NASDAQ were both higher on Wednesday as traders added exposure to tech names that were hard hit earlier in the week. The Dow Jones Industrials kept in the green by 49.26 points to 29,470.18, putting it on pace for a three-day winning streak The S&P 500 […]

The S&P 500 and NASDAQ were both higher on Wednesday as traders added exposure to tech names that were hard hit earlier in the week.

The Dow Jones Industrials kept in the green by 49.26 points to 29,470.18, putting it on pace for a three-day winning streak

The S&P 500 advanced 28.88 points to 3,574.41

The NASDAQ took on 211.82 points, or 1.8%, to 11,730.

Apple gained 1.9%. Netflix climbed 0.7%. Facebook picked up 1.8%, and Amazon rose 2.5%, respectively. Alphabet traded 0.9% higher and Microsoft was up by 2.3%.

The Dow was coming off two back-to-back strong sessions, jumping 262 points on Tuesday and surging more than 800 points on Monday following Pfizer and BioNTech’s announcement about their more than 90% effective Covid-19 vaccine.

Eli Lilly’s antibody drug was cleared by the Food and Drug Administration for emergency use late Monday. The agency said the drug could be used to treat mild-to-moderate cases of Covid-19 in patients who are older than 12 years old.

The vaccine and antibody drug news comes as the United States once again topped its prior day record of daily new Covid-19 infections, on a seven-day average, while also crossing the bleak milestone of more than 10 million cases nationwide on Monday.

The seven-day average of daily new cases Monday was 108,964, a 37% increase from a week ago, according to an analysis of data from Johns Hopkins University.

Prices for the 10-Year Treasury were unchanged, maintaining Tuesday’s 0.96% yield Treasury prices and yields move in opposite directions.

Oil prices picked up 78 cents to $42.14 U.S. a barrel.

Gold prices dipped $16.40 to $1,860

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