ADP Private Payroll Report Disappoints & Disney Climbs – Daily Financial News Summary For August 5, 2020
Wednesday kept things in the green as the Nasdaq advanced 0.4%, the S&P 500 was up 0.6%, and the Dow Jones rose 1.4% and hit a 4-day winning streak. The Stoxx Europe 600 Index gained 0.5%. The yield on 10-year Treasuries added four basis points to 0.54%.
While our after-hours reporting showed Disney remaining flat, today, the shares saw a 8.8% gains.
Another gainer for Wednesday was Novavax, whose shares popped 10.4% after the company reported phase one vaccine trial results that demonstrated a positive immune response among patients.
More good news on the fight against COVID-19 came from Johnson & Johnson when they announced they struck a $1 billion deal with the U.S. government to manufacture 100 million doses of its coronavirus vaccine candidate if it proves successful. As a result, their shares rose 0.8%.
Defiance Nasdaq Junior Biotechnology ETF And ALPS Medical Breakthroughs ETF: ETFs To Watch In Biotech And Healthcare Sectors
Defiance Nasdaq Junior Biotechnology ETF (NASDAQ:IBBJ) is the latest addition as Exchange Traded Funds continue to elicit strong demand, given the strong bullish momentum in the equity market. With investments in the equity market edging high amid growing concerns over an extended stock market, the ETF seeks to provide targeted exposure to the biotech space that has been doing exceedingly well amid the disruptions fuelled by COVID-19 pandemic.
