Wall Street rises on good news from medical companies | Economy

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NY – Stock prices closed on Monday on the New York Stock Exchange, boosted by medical companies reporting progress in the fight against the coronavirus.

At the close of business, the S&P 500 Index rose more than 3% while the Dow Jones Industrial Average gained 520 points, 2.4%, and the Nasdaq Technology Index advanced 3%.

Nervousness is still rampant in the markets, in the expectation of greater international measures to counter the economic effects of the pandemic.

The S&P 500 remains 22% below the record it reached last month.

Meanwhile, the price of oil fell to its worst level in 18 years. The international benchmark Brent depreciated 8.7% and closed at $ 22.76 per barrel.

The rise in the market was mainly due to companies in the medical sector. Abbott Laboratories went up reporting that it has a test capable of detecting the coronavirus in five minutes. Johnson & Johnson also won after announcing that it could begin testing a Covid-19 vaccine.

The yield on 10-year Treasuries fell to 0.64%, compared to 0.74% on Friday.

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