The Dow also jumped 300 points.
The market finished higher on Wednesday—with the S&P closing in on a new record high—after President Trump announced that the U. S. government will purchase 100 million doses of Moderna’s experimental coronavirus vaccine. “While markets think a fiscal deal will eventually be reached, this isn’t a critical, make-or-break catalyst for stocks (at least in the near-term),” says Vital Knowledge founder Adam Crisafulli. Solid economic data, strong earnings, and anticipation for the Federal Reserve’s meeting next month are all helping the S&P 500 “to absorb Washington’s acrimony.” Former Vice President Joe Biden announced late on Tuesday that he is tapping former Democratic primary opponent Sen. Kamala Harris (D-Calif.
