Financial News

Tuesday, May 19th
May 18, 2020
AP-NC Newswatch
May 18, 2020
Financial News

 

 

Wall Street opens higher…Moderna shares surge on vaccine hopes…Finnair to aid more flights in July, if lockdowns are lifted

 

NEW YORK (AP) – Stocks are opening higher on Wall Street, extending a global rally as the U.S. market bounces back from its worst week in two months. At 10:38 a.m. Eastern Time, the S&P 500 was up 77 points, to 2,941. The Dow was up 711 points, to 24,395. And the Nasdaq was up 197 points, to 9,211. Over the weekend Federal Reserve Chair Jerome Powell expressed optimism that the U.S. economy could begin to recover in the second half of the year, once the outbreak has been contained.

 

NEW YORK (AP) – Shares of Moderna surged 25% higher after the pharmaceutical company said today that early data from testing of its coronavirus vaccine shows that it helped create immune responses that might help prevent infection. The company also has deemed the vaccine “generally safe and well tolerated” by the people who took it.

 

BERLIN (AP) – Germany’s foreign minister says European countries will work over the next two weeks on criteria that would help make international vacations on the continent possible this summer. Foreign Minister Heiko Maas consulted today with counterparts from 10 countries that are popular with German tourists, most in southern Europe. Right now, many European borders are at least partly closed and some countries require a two-week arrival quarantine.

 

COPENHAGEN, Denmark (AP) – Finland’s national airline, a major carrier between Europe and China, says it will add more flights and routes beginning in July if governments ease their lockdowns enough for travel to resume. The outlook for flying, however, remains uncertain, with companies forecasting a slow recovery even next year due to public health restrictions and concerns. Finnair has temporarily canceled flights to mainland China and other Asian destinations because of the coronavirus.

 

UNDATED (AP) – A report says Asian Americans more than any other group are using digital devices and streaming services to watch TV. The Nielsen company study made public today says Asian Americans are becoming key consumers and influencers in entertainment and gaming. It also says Asian Americans are becoming more tech savvy as their purchasing power widens.

 

 

AP-WF-05-18-20 1444GMT