Dow Jones opens sharply higher over vaccine hopes
- Dow was up 0.45 percent at 29,554.31 points, three points above its last record set in mid-February.
NEW YORK: Wall Street opened higher Wednesday with the Dow Jones index above its record level from February amid continued enthusiasm over prospects for a Covid-19 vaccine, before losing some of that steam.
Tech stocks rebounded after two days of decline.
At 1430 GMT, the Dow was up 0.45 percent at 29,554.31 points, three points above its last record set in mid-February.
Fifteen minutes later the Dow fell a bit and was up 0.28 percent at 29,504.20.
The tech-rich Nasdaq picked up some of the ground it lost Monday by advancing 1.49 percent to 11,726.55 points, while the broader S&P 500 picked up 0.53 percent and stood at 3,564.39 points.
Wall Street stayed open even as the nation observed the Veterans Day holiday.
On Monday the Dow gained nearly a point as investors welcomed news of promising results from Pfizer's trials of a Covid-19 vaccine that it said is 90 percent effective.
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