- Wall Street’s main indexes opened higher after ADP data.
- Private sector employment in US rose more than 2 million in June.
- Pfizer and BioNTech announced positive results from coronavirus vaccine trials.
Major equity indexes in the US opened the day in the positive territory supported by the ADP jobs report and coronavirus vaccine optimism. As of writing, the S&P 500 was up 0.35% on the day at 3,110 points, the Dow Jones Industrial Average and the Nasdaq Composite were gaining 0.6% and 0.08%, respectively.
Risk sentiment turns positive
Earlier in the day, the monthly data published by the ADP revealed that the private sector employment in the US increased by 2.36 million in June. More importantly, May’s reading of -2.76 million got revised up to +3.06 million.
Meanwhile, Biopharmaceutical New Technologies (BioNTech) reported that the COVID-19 vaccine that they co-developed with Pfizer showed positive results in first human trials. Reflecting the upbeat market mood, the CBOE Volatility Index, Wall Street’s fear gauge, is down 2.2% on a daily basis.
Among the 11-major S&P 500 sectors, the Energy Index and the Industrial Index are gaining 1.7% and 1.5%, respectively, as the top-performers.
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