Reuters BRENDAN MCDERMID
Wall Street jumped US, amid a lull in bond markets after a month-long sales wave, while another Corona vaccine, a US approval, boosted expectations for a rapid economic recovery.
Johnson & Johnson shares rose as the company started shipping its single-dose anti-Corona vaccine, after it became the third vaccine authorized for use in the United States.
US Treasury yields declined after a rapid increase last month on expectations of an acceleration in inflation due to bets on an economic recovery.
The yield on the benchmark 10-year Treasury bonds fell to 1.449 percent, after hitting a one-year high of 1.614 percent.
On the other hand, data showed that manufacturing activity in the United States rose to its highest level in three years in February, due to an increase in new orders.
The Dow Jones industrial average ended the trading session 1.94 percent higher at 31531.36 points, while the benchmark “Standard & Poor’s 500” index rose 2.38 percent to close at 3901.82 points.
The combined Nasdaq index jumped 3.01 percent to end the session at 13,589.26 points.
The “Russell 2000” index of small cap stocks also jumped, extending its gains since the beginning of 2021 to about 15 percent, compared to gains of less than five percent for the “Standard & Poor’s 500” index in the same period.
Source: “Reuters”
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