Stocks reversed Tuesday's losses amid word that the Trump administration was considering stand-alone bills to aid airlines and small businesses. The president had called off talks on a relief bill.
The Dow falls more than 500 points as a report says large global banks were involved in transactions flagged as possible money laundering and hopes dim for Congress to pass another relief measure.
Moderna is currently developing a promising, yet still unproven, vaccine against the coronavirus. But Moderna executives have already sold tens of millions of dollars worth of stock in the company.
The market is hitting records, in large part because of a handful of superstar tech stocks. Apple, Amazon, Microsoft, Facebook, Netflix and Google's parent dominate indexes in retirement funds.
After plummeting 34% from its prior peak, the stock index has staged a steady recovery — gaining more than 50% since March, when lockdowns shut down much of the economy.
Stock trading has become easier and cheaper than ever. And people stuck at home during the pandemic have flocked to it. But have venues like Robinhood made it too risky for inexperienced investors?
The Dow Jones Industrial Average gains 526 points after reports that retail sales rebounded strongly in May and that the Trump administration is preparing an infrastructure plan to boost the economy.