Wall Street continued its string of new records on Monday (Aug 24), as the Nasdaq and S&P 500 notched all-time highs amid promising news about a ...
NEW YORK: Wall Street continued its string of new records on Monday , as the Nasdaq and S&P 500 notched all-time highs amid promising news about a new coronavirus treatment.
Maris Ogg, portfolio manager at Tower Bridge Advisors, noted that while trading is quiet in late August,"We are slowly seeing the market broadening in terms of leadership, which is pretty healthy." "Based on scientific evidence available, the FDA concluded this product may be effective in treating COVID-19 and that the known and potential benefits of the product outweigh the known and potential risks of the product in hospitalised COVID-19 patients," the agency said in a statement.But Ogg noted that good news on a treatment was counteracted by worrying reports about coronavirus patients becoming reinfected.
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