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KiplingerJul 13, 2020
Stock Market Today: This Is Your Market on (Coronavirus) Drugs
News about coronavirus drugs in development gave the market an early spark on Monday, but this time it wasn't Gilead Sciences' (GILD) remdesivir - it was Pfizer (PFE, 4.1%) and smaller BioNTech (BNTX, 10.6%). The FDA granted the two companies a Fast Track designation for a pair of COVID-19 vaccine candidates that are currently in early-phase clinical studies.

PepsiCo (PEP, 0.3%) also delivered some good news in the form of a second-quarter profit beat ahead of meatier reports on this week's earnings calendar.

25 Stocks That Billionaires Are Selling But a rip-roaring morning turned volatile as the day went on, and the rally eventually unraveled in spectacular fashion as California moved to close indoor operations of restaurants, bars and movie theaters across the state, as well as other businesses in 30 counties. Tesla (TSLA), for instance, gained as much as 16% before swinging to a 3.1% loss.

The Dow ultimately dropped 553 points from its peak to finish just 10 points higher to 26,085. The S&P 500 declined 0.9% to 3,155, and the Russell 2000 fell 1.3% to 1,403. Tech stocks lost some steam, sending


MarketWatchJul 13, 2020
NewsWatch: Nasdaq, S&P 500 end lower as coronavirus cases rise and tech stock fall, erasing rally sparked by renewed vaccine hopes
Stocks closed mostly lower Monday, with the Dow booking a modest gain, after technology stocks fell and rising coronavirus cases led California's governor to order businesses across the state to shutter once again.

MarketWatchJul 13, 2020
Market Snapshot: Nasdaq, S&P 500 end lower as coronavirus cases rise and tech stock fall, erasing rally sparked by renewed vaccine hopes
Stocks closed mostly lower Monday, with the Dow booking a modest gain, after technology stocks fell and rising coronavirus cases led California's governor to order businesses across the state to shutter once again.

MarketWatch MarketPulseJul 13, 2020
Nasdaq sinks 2%, and broader stock market, ends negative in a stunning Monday reversal in final hour of trade
The Nasdaq Composite Index turned sharply negative as the broad-market rally, led by technology and tech-related stocks, unraveled within the final hour of trade Monday afternoon. The Nasdaq Composite Index closed down 2.1% at 10,390, but had been up by nearly 2% at 10,824 earlier in the session; the S&P 500 index closed 0.9% lower at 3,155 after touching an intraday peak at 3,235.32, briefly erasing its year-to-date losses. Meanwhile, the Dow Jones Industrial Average gave up its solid gains to cut its rally substantially. The Dow closed with a gain of less than 0.1% at about 26,086, but had hit a Monday peak at 26,639. News of reclosing in coronavirus ravaged states, particularly California, partly helped to derail the day's strong opening gains.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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