Dow rallies 500 points after hot start to the earnings season

U.S. stocks rose Thursday after better-than-expected earnings reports from Bank of America and other major companies.

The Dow Jones Industrial Average jumped about 505 points, or 1.5%. The S&P 500 gained 1.6% and the Nasdaq Composite added 1.7%.

Third-quarter earnings season continued Thursday with several big banks and Dow members reporting financial results before the bell.

Eight members of the S&P 500 reported earnings this morning and all eight beat earnings-per-share expectations from Wall Street.

“So far, the overwhelming majority of large US companies have been able to generate higher profitability despite rising labor costs because sales growth has been so robust. We expect the same to be true in 3Q,” Mark Haefele, chief investment officer of UBS Global Wealth Management, said in a note Thursday

https://www.cnbc.com/2021/10/13/stock-market-futures-open-to-close-news.html

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https://www.reuters.com/business/healthcare-pharmaceuticals/antibodies-sinovacs-covid-19-shot-fade-after-about-6-months-booster-helps-study-2021-07-26/

BEIJING, July 27 (Reuters) – Antibodies triggered by Sinovac Biotech’s (SVA.O) COVID-19 vaccine declined below a key threshold from around six months after a second dose for most recipients, but a third shot had a strong booster effect, a lab study showed.

Chinese researchers reported the findings from a study of blood samples from healthy adults aged between 18-59 in a paper published on Sunday, which has not been peer reviewed. https://bit.ly/3zGsxQt

Among participants who received two doses, two or four weeks apart, only 16.9% and 35.2% respectively still had neutralising antibodies above what researchers regard as a detectable threshold level six months after the second shot, the paper said.

Those readings were based on data from two cohorts involving more than 50 participants each, while the study gave third doses of the vaccine or placebo to a total of 540 participants.

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