Dow posts 4-day winning streak, jumps more than 200 points on virus vaccine hopes, Goldman earnings; European stocks close higher on coronavirus vaccine hopes; BELEX15 up 0.22%; No more money in the state budget for increasing salaries&pensions, economists say
Stocks rose Wednesday on the back of positive coronavirus vaccine news and a blowout quarter from Goldman Sachs. The Dow Jones Industrial Average closed 227.51 points higher, or 0.9%, at 26,870.10. It was the Dow’s fourth straight daily gain. The S&P 500 was up 0.9% at 3,226.56. The Nasdaq Composite gained 0.5% to end the day at 10,550.49. The Russell 2000 — which is made up of small-cap stocks — rallied 3.5% for its biggest one-day gain since early June.
Data published by the New England Journal of Medicine showed Moderna’s coronavirus vaccine produced a “robust” immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial. The news sent Moderna shares up 6.9%.
Earnings season continued and Goldman Sachs reported quarterly numbers that easily beat analyst expectations. The company’s results were driven by a 93% surge in trading revenue. Goldman shares gained 1.4%.

European stocks closed higher on Wednesday amid elevated hopes for a coronavirus vaccine. The pan-European Stoxx 600 index provisionally closed 1.9% higher, with travel and leisure shares surging 5.9% to lead gains as all sectors and major bourses traded in positive territory.
Earnings in Europe come from retailer Burberry. Its shares sank 5% after reporting a 45% drop in sales for its first quarter.
Shares of Atlantia in Italy meanwhile soared nearly 26% amid a last-ditch effort by the firm’s motorway unit to keep its concession with the national government.

Serbian BELEX15 added 0.22%, as Komercijana and NIS advanced 2% and 1%, respectively. Metalac was the most active with RSD 5.7m in volume, while the stock price was almost flat.
From the macro side, according to most economists in Serbia’s, there will be no money in the 2021 state budget for higher civil servant salaries and pensions, as stated by the Serbian President. Economist Milan Kovačević told the Beta agency that there is no money in the state coffers to increase salaries and pensions in the coming year, because the budget has already suffered a deficit and the state has taken out big loans.
Source: CNBC, Ilirika