Wall Street Closes Higher on COVID-19 Near Vaccine

The New York Stock Exchange (NYSE) closed higher on Wednesday, supported by positive news about the development of a vaccine for the coronavirus disease (COVID-19).

In addition, the US Federal Reserve’s Beige Book showed that economic activity increased in almost all districts across the United States.

The Dow Jones Industrial Average gained 0.85% or 227.51 points to settle at 26,870.

The S&P 500 index rose by 0.91% and settled at 3,226.56.

The Nasdaq Composite closed higher by closed up by 0.59% at 10,550.49.