US stocks rise despite coronavirus concerns

2020-08-04 15:52:46 GMT (

Most of the major US stock benchmarks rose on Tuesday, lifted by the demand on tech shares despite the growing concerns over the coronavirus crisis.


US President Donald Trump has stated that his country might have an  effective coronavirus vaccine by the end of this year or early next year.


This came as many companies are already in different stages of testing and trails on a vaccine, and the nearest of which is most likely the vaccine that is being developed and tested by AstraZeneca and Oxford University.


The US government has pumped millions of dollars in the ongoing trails for the promising coronavirus vaccine, amid expectations that it will be available later this year.


As for stocks, Dow Jones rose 0.4% or 108 points to 26,773 as of 15:27 GMT, and S&P 500 rose 0.1% or 4 points to 3,298, while Nasdaq fell 0.1% or 13 points to 10,895.

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