U.S. markets climbed in volatile trading on Wednesday, shrugging off a chaotic clash at the Trump-Biden debate, instead choosing to focus on rising hopes for further coronavirus stimulus and better-than-expected economic data. The Dow Jones Industrial Average closed up 329.04 points, or 1.2%, to 27,781.70, after jumping 573 points at its session high. The S&P 500 rose 0.8%, or 27.53 points, to 3,363.00, while the tech-heavy Nasdaq Composite climbed 0.7%, or 82.26 points, to 11,167.51. Still, major averages suffered their first monthly declines since March partly due to a tech-led correction earlier in September. Markets were also buoyed by positive data regarding a potential coronavirus treatment from Regeneron Pharmaceuticals. Regeneron said after the close Tuesday its REGN-COV2 drug reduced viral levels and improved symptoms in non-hospitalized coronavirus patients. Meanwhile, Moderna’s experimental Covid-19 vaccine appears safe and shows signs of working in older adults, according to study results published in the New England Journal of Medicine. However, Financial Times reported Wednesday Moderna’s vaccine won’t be ready before the November election.
