Tue, 11 Aug 2020

NEW YORK, New York - Stocks in the U.S. were mixed on Wednesday with the Dow Jones falling 77 points, partly due to a 1.7% drop in Boeing.

Pfizer jumped more than 3% after the company said a COVID-19 vaccine being jointly-developed with German biotech firm BioNTech was showing promise.

"Pfizer news was certainly an impetus for the market to move even higher but in general it is this very positive momentum, looking beyond this re-spreading of the virus, looking beyond that to eventual treatments, eventual vaccine and eventual safe openings of the economy," Tim Ghriskey, chief investment strategist at Inverness Counsel in New York told the Reuters Thomson news agency Wednesday.

At the closer of trading Wednesday the Dow Jones Industrial Average was down 77.91 points, or 0.30%, at 25,734.97.

The Standard and Poor's 500 rose 15.57 points, or 0.50%, to 3,115.86.

The Nasdaq Composite gained 95.86 points, or 0.95%, to 10,154.63.

The U.S. dollar crumbled across the board Wednesday. The British pound was sharply higher at 1.2479. The New Zealand dollar, one of the best performers on the day, jumped to 0.6483.

The euro was considerably stronger at 1.1250. The Japanese yen was a fraction higher at 107.45. The Swiss franc was stronger at 0.9459.

The Canadian dollar inched up to 1.3584. The Australian dollar edged up to 0.6912.

On European markets, the German Dax slid 0.41%, while the Paris-based CAC 40 was down 0.18%.

London's FTSE 100 fell 0.19%.

On Asian markets, China's Shanghai Composite closed 41.31 points or 1.38% higher Wednesday at 3,025.98.

Hong Kong's Hang Seng gained 125.91 points or 0.52% 24,427.19.

The Australian All Ordinaries added 39.70 points or 0.66% to 6,041.00.

In Japan, the Nikkei 225 fell 166.41 points or 0.75% to 22,121.73.

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