REGN - Stock Markets Soar as Coronavirus Stocks Stay in the Spotlight
The stock market bounced back on Monday from its losses late last week, as the initial news of President Donald Trump testing positive for COVID-19 gave way to positive comments about his ongoing recovery. It's not uncommon for stocks to fall going into a weekend during which there's considerable uncertainty, only to see a rebound once facts are known and worst-case scenarios haven't played out. Just after 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 381 points to 28,064. The S&P 500 (SNPINDEX: ^GSPC) gained 46 points to 3,395, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 176 points to 11,251.
With the White House going through a coronavirus crisis, it's not surprising to see coronavirus-fighting stocks in the spotlight. In particular, Regeneron Pharmaceuticals (NASDAQ: REGN) and Gilead Sciences (NASDAQ: GILD) saw their stocks climb on Monday following news that their treatments had been used in the president's care. Elsewhere in healthcare, a big deal boosted shares of MyoKardia (NASDAQ: MYOK) .
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Stock Markets Soar as Coronavirus Stocks Stay in the Spotlight