Dow and S&P 500 Rebound Success... COVID Vaccine Stocks Weak Amid Booster Shot Futility Debate

[Image source=Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] On the New York Stock Exchange, the Dow Jones Industrial Average and the S&P 500 index rebounded after five consecutive days of decline, but the Nasdaq index continued to fall.

On the 13th (local time), the Dow Jones Industrial Average closed at 34,869.63, up 261.91 points (0.76%), the S&P 500 index rose 10.15 points (0.23%) to 4,468.73, and the Nasdaq index fell 9.91 points (0.07%) to 15,105.58.

With the August Consumer Price Index (CPI) announcement just a day away, value stocks outperformed growth stocks. Shares of GM, Citigroup, and Delta Air Lines showed upward trends.

Crude oil prices strengthened, leading to gains in energy sector stocks such as Chevron, Exxon Mobil, and Occidental.

Moderna and Pfizer fell 6.6% and 2.2%, respectively, following remarks from FDA and WHO experts stating that COVID-19 vaccine booster shots are not necessary.

Cryptocurrency exchange Coinbase dropped 2.2% after announcing plans to raise $1.5 billion to fund research and development and mergers and acquisitions.

Nike shares fell 2.4% after BTIG downgraded its investment rating from buy to neutral, citing concerns over poor year-end performance due to supply chain issues.

Apple, scheduled to unveil its new iPhone the following day, rose 0.39%.

This content was produced with the assistance of AI translation services.