Stocks End Three-Day Losing Streak as Major Indexes Rise
On August 19, the U.S. stock market ended a three-day losing streak as major indexes posted modest gains amid easing bond market pressure. The Dow Jones Industrial Average rose 0.22%, the S&P 500 gained 0.21%, and the Nasdaq Composite edged up by 0.16%. Positive late-stage trial results for Moderna's personalized mRNA cancer vaccine, in partnership with Merck, drove significant gains—Moderna shares more than doubled while Merck rose over 12%. Other notable movements included a decline of nearly 4% in Viking Holdings due to concerns about European river levels affecting cruise operations and Sandisk falling by almost 3.5%. Target also reported better-than-expected Q2 earnings, with sales up 5.3%, which provided further support for the market at a time when investors are closely watching inflation data ahead of potential interest rate decisions.
Tickers: $MRK $MRNA $SNDK $TGT $VIK
Topics: cancer vaccine earnings report pharmaceuticals stock market