Wall St headed higher as travel stocks rally on vaccine roll-out
New York, Wall Street’s main indexes were set for a strong open on Monday as travel stocks surged on the launch of a nationwide COVID-19 vaccine campaign, according to Reuters.
Travel and leisure stocks are the worst hit by restrictions on movement due to the virus outbreak, and have reacted positively to any vaccine-related news.
At 8:19 a.m. ET, Dow e-minis were up 247 points, or 0.82%, S&P 500 e-minis were up 27 points, or 0.74%, and Nasdaq 100 e-minis were up 55.5 points, or 0.45%.
U.S. stocks had rallied through the past few weeks, with the S&P 500 touching a series of record highs as markets bet on the swift approval and roll-out of a vaccine.
But uncertainty over more fiscal stimulus had stifled gains, after the Senate last week approved a one-week extension of federal funding to avoid a government shutdown and to provide more time for negotiations on coronavirus relief and an overarching spending bill.
Source: Saudi Press Agency