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July 15, 2020, 9:52 a.m. EDT

S&P 500 briefly erases all of 2020 losses in Wednesday trade as stocks stage rally on coronavirus vaccine hope

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By Mark DeCambre

The S&P 500 erased its 2020 losses in early Wednesday action, amid a broad rally for equities that is at least partly supported by upbeat earnings from American corporations and optimism about achieving a vaccine for COVID-19. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.16% was up 34 points, or around 1.1%, at 3,233, putting the coronavirus-beaten index flat for what has shaped to be a tumultuous year since the viral outbreak took hold in the U.S. March. The market has been gaining traction since the depth of the crisis but took a step higher after Moderna Inc. /zigman2/quotes/205619834/composite MRNA -0.87% offered more details about its success with a vaccine candidate for COVID-19. Meanwhile, Goldman Sachs produced second-quarter results that were better than expected.

/zigman2/quotes/210599714/realtime
US : S&P US
3,281.06
-38.41 -1.16%
Volume: 2.95B
Sept. 21, 2020 4:20p
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/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 69.26
-0.61 -0.87%
Volume: 8.17M
Sept. 21, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$27.57 billion
Rev. per Employee
$177,721
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