Dow Jones Today Jumps On COVID Vaccine Fast Track

The Dow Jones today can pop higher after the Trump administration announced plans to fast-track a potential groundbreaking treatment for COVID-19.

Apple Inc. (NASDAQ: AAPL) continues to rally. Read on for more stocks and events pushing the Dow today.

We'll start with the numbers from Friday for the Dow, S&P 500, and Nasdaq:

Index Previous Close Point Change Percentage Change
Dow Jones 27,930.33 +190.60 +0.69
S&P 500 3,397.16 +11.65 +0.34
Nasdaq 11,311.80 +46.85 +0.42

Now here are what I think will be the most important market events and stocks on Monday morning.

The Top Stock Market Stories for Monday

  • U.S. President Donald Trump has granted an emergency authorization for a coronavirus plasma treatment that could potentially boost antibodies against the virus. The treatment will use the blood of previous COVID-19 patients who have recovered and infuse it into others to prevent the disease. Despite the announcement, critics have expressed some concerns about the lack of clinical data to support the treatment as a viable mass treatment.
  • Finally, oil prices are in focus as two major storms threaten the refinery network of the United States. Roughly 50% of America's refineries exist on the Gulf Coast. This week, two major storms – Marco and Laura – are expected to make landfall. The threat of two back-to-back hurricanes is a reminder of Hurricane Katrina, which struck 15 years ago and caused immense damage to Louisiana.

Stocks to Watch Today: AAPL, BX, MRNA, AZN

  • Shares of Apple Inc. (NASDAQ: AAPL) added another 3%, and shares topped $513. The stock had jumped another 8% last week ahead of the company's planned stock split. Apple will split its stock 4-for-1 for shareholders of record after Monday's closing bell. Shares will trade on a split-adjusted basis starting next week.
  • In deal news, Blackstone Group Inc. (NYSE: BX) announced plans to purchase the consumer healthcare division of the Japanese firm Takeda Pharmaceutical. Reports state that the private equity giant will spend roughly $2.3 billion on the deal.
  • Moderna Inc. (NASDAQ: MRNA) announced that enrollment for its 30,000-patient late-stage trial for a COVID-19 cure has topped the 40% mark. The company launched its study in July and plans to wrap up by September. Meanwhile, AstraZeneca Plc. (NYSE: AZN) could see its vaccine candidate with Oxford University receive fast-tracking approval. According to the Financial Times, the White House is considering a plan that would see the U.S. Food and Drug Administration give the company an emergency authorization.

Disclosure: None.

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