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The DJIA rose 1.90% The S&P 500 was up 2.40% The Nasdaq Composite added 3.00%
Pharmaceuticals led the market.
General Market Review
Pharmaceuticals
Johnson and Johnson’s single dose vaccine received approval form the FDA. The Covid vaccine is expected to have 20 million doses rolled out this month. This approval increased investor expectations for reopening as progress on the stimulus is being made.
Stimulus
The $1.9 trillion fiscal package was passed by the House of Representatives. The bill includes $1,400 stimulus checks, vaccine and medical supply funding, unemployment benefits, and aid to small businesses and local and state governments.
Industrials
Boeing added 6% after United Airlines agreed to buy 25 additional 737 Max jets and take the deliveries earlier than expected. United Airlines rose 1%.
Tech
Apple rose close to 5% after reopening all of its stores in the US for the first time since last year.
