The Dow Jones Industrial Average (DJINDICES:^DJI) rose 0.22% to 53,463, the S&P 500 (SNPINDEX:^GSPC) gained 0.21% to 7,708, and the Nasdaq Composite (NASDAQINDEX:^IXIC) edged 0.16% higher to 26,331 as the major indexes halted a three-day slide following an easing of bond market pressure.
Today’s biggest moves
Moderna (NASDAQ:MRNA) shares more than doubled and Merck (NYSE:MRK) gained ground after the partners announced positive late-stage trial results for a personalized mRNA cancer vaccine.
Meanwhile, Sandisk (NASDAQ:SNDK) fell 9% amid broader chip sector weakness, and Viking Holdings (NYSE:VIK) dropped 4% after warning that low river levels in Europe could disrupt cruise operations.
What this means for investors
Despite the U.S. national debt surpassing $40 trillion today, markets inched higher after a three-day decline. The star of the show today was Moderna, which “announced positive Phase 3 data from a trial pairing its intismeran autogene with Merck’s KEYTRUDA melanoma treatment.” MRNA stock soared 177% on the news as the market prices in the potential for intismeran to work in other cancer trials and for Moderna to create other individualized neoantigen therapies. Merck’s shares also rose 13% today on the news.
Elsewhere, Target (NYSE:TGT) reported better-than-expected Q2 earnings, with sales up 5.3%, and same-store sales rising 3.8%. The retailer said most business segments delivered growth, outside of apparel and home furnishings and decor. At a time when the Fed minutes showed support for a potential interest rate increase if inflation doesn’t cool, the positive retail data is good news for the broader market to see.
Should you buy stock in Invesco QQQ Trust right now?
Before you buy stock in Invesco QQQ Trust, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Invesco QQQ Trust wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation, you’d have $419,408!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,348,694!*
Now, it’s worth noting Stock Advisor’s total average return is 966% — a market-crushing outperformance compared to 213% for the S&P 500. Don’t miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
