Financial

Dow Jumps 300 Points As Wall Street Bets On A Successful Reopening Of The Economy

May 27, 2020 / Sergei Klebnikov, Forbes Staff

TOPLINE

The market continued to rally on Wednesday as optimism about a successful reopening of the economy and a potential coronavirus vaccine continues to build on Wall Street.

KEY FACTS

  • The Dow Jones Industrial Average rose 1.2%, over 300 points, at Wednesday’s open, while the S&P 500 was up 0.9% and the Nasdaq gained 0.1%.
  • The European Commission announced plans on Wednesday for a $826.5 billion recovery fund to help deal with the economic fallout from the coronavirus pandemic.
  • Stocks have been moving higher thanks to increasing optimism on Wall Street, with states beginning to reopen businesses and several companies working on potential coronavirus vaccines.
  • Earlier this week, biotech company Novavax said that it had started the first clinical trial for its experimental coronavirus vaccine, while pharmaceutical giant Merck announced that it is working with scientific research organization IAVI to develop a vaccine.

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Mike Adams

Mike Adams is a medical device sales leader with extensive clinical experience in spine and biologics and a nationwide distribution network built over the last 10+ years in the industry. He has held various leadership positions in healthcare and device including Distributor Partner, Hospital COO and Spine VP of Sales. He currently leads the commercialization strategy for OrthoSpine Partners and is a Distributor Principal at Novel Medical. Because of his unique career path, Mike has the ability to see the healthcare business from multiple perspectives making him passionate about building strategic partnerships that help reduce overall costs, drive innovation, and cultivate growth for new markets.

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