NEW YORK, July 9 — Wall Street stocks rose early today, reversing the prior session’s sell-off as markets monitored the latest headlines on the Delta variant of the coronavirus.
Governments across Asia were imposing new restrictions in response to Covid-19 outbreaks, with Thailand announcing a seven-hour night curfew across the capital Bangkok and nine provinces and Sydney tightening a lockdown in Australia’s largest city.
The latest Covid-19 trends have exacerbated uncertainty about the global economic recovery, leading to volatility in markets this week.
Today, the yield on the 10-year US Treasury note rebounded after a series of declines.
The move was “aided by a sense that Treasuries have gotten overbought on a short-term basis,” said Briefing.com analyst Patrick O’Hare.
About 30 minutes into trading, the Dow Jones Industrial Average was up 1.0 per cent at 34,777.11.
The broad-based S&P 500 gained 0.7 per cent to 4,351.32, while the tech-rich Nasdaq Composite Index advanced 0.3 per cent to 14,597.11.
Among individual companies, Pfizer jumped 2.1 per cent after the company and BioNTech said they would seek authorisation for a third dose of their Covid-19 vaccine to boost its efficacy against variants of the virus. — AFP
