May 26, 2020

Stocks moved higher to begin the week with the S&P 500 rising over 3,000 for the first time since early March. This comes as investors continue to be optimistic about the reopening of the economy and a vaccine breakthrough.

Dow Jones +530 at 24,995

S&P 500 +36 at 2,992

NASDAQ +16 at 9,340

The 10 Year Treasury closed up 4 basis points yielding 0.70%

Oil prices closed up $0.86 ending at $34.11 a barrel

Gold prices closed down $27 ending at $1,726 an ounce

In the days’ stock news:

Merck shares moved 1% higher after announcing its acquisition of Themis, a privately held company whose Covid-19 vaccine candidate is approaching human trials.
Novavax shares increased over 4% after the company said it has begun human trials of its Coivd-19 vaccine in Australia, with results expected in July. If the trials are successful, they will be expanded to the U.S.
Hertz filed for Chapter 11 bankruptcy protection after talks with creditors were unsuccessful. The car rental company’s business has been severely impacted by the pandemic.