Wall Street started in the green on Monday after Moderna Inc. announced that early-stage trials of the COVID-19 vaccine gave positive results so far, adding it expects the final stage of the trials could begin in July. Also, the United States Federal Reserve Chair Jerome Powell said that “there’s really no limit to what we can do with these lending programs that we have.” Yesterday, he also stated that that “in the long run, and even in the medium run, you wouldn’t want to bet against the American economy.” The Dow Jones Industrial Average opened 687 points or 2.92% higher at 9:30 am ET as Dow Inc led the gains, rising 7.72% at 9:32 am ET. The Nasdaq 100 rose 1.28% at 9:30 am ET with United Airlines Holdings jumping 11.80% at 9:34 am ET. The S&P 500 increased by 2.52% at 9:31 am ET. Royal Caribbean Cruises surged 11.96% at 9:32 am ET.
The euro jumped 0.26% to 1.08456 against the dollar at 9:32 am ET.