Wall St rises on vaccine expectations, positive US retail sales data

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Wall St rises on vaccine expectations, positive US retail sales data




FILE PHOTO. A trader walks out the door of 11 Wall Street, the headquarters of the New York Stock Exchange (NYSE) in New York City


© Reuters/Brendan McDermid
FILE PHOTO. A trader walks out the door of 11 Wall Street, the headquarters of the New York Stock Exchange (NYSE) in New York City


Por Medha Singh y Shivani Kumaresan

Oct 16 (Reuters) – Wall Street rebounded on Friday after three straight days of losses, after Pfizer said it will request authorization for emergency use in the United States of its COVID-19 vaccine project in November, and by data that showed better-than-expected figures in the country’s retail sales.

* The pharmaceutical company shares gained 1.4%, as it waits to provide safety data and request authorization for the vaccine, which it is developing with Germany’s BioNTech SE, as soon as a safety milestone is achieved in the third week of November.

* BioNTech shares listed on Wall Street were up 2.8%.

* Additionally, data showed US retail sales surged more than expected in September, although the recession recovery is at a crossroads as government money runs out and new COVID-19 infections rise in the whole country.

* This week’s Wall Street trading has been driven by news of more federal support to help businesses and households rebound from the impact of the pandemic, with the S&P 500 on track to post its lowest weekly gain at three.

* It also seems unlikely that talks between Democrats and Republicans for more tax help will yield a deal before the November 3 election.

* At 1434 GMT, the Dow Jones Industrial Average was up 1.18% to 28,831 points; the S&P 500 advanced 0.7% to 3,507.82 points; and the Nasdaq Composite was up 0.85% at 11,813 points.

* Nine of the 11 sectors in the S&P 500 were moving up. Only energy and the real estate sector fell.

(Report by Medha Singh in Bengaluru, Edited in Spanish by Manuel Farías)

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