Markets

Here's what happened to the stock market on Wednesday

A medical worker stands at the entrance to the New York Stock Exchange (NYSE) on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City.
Spencer Platt

Dow Jones Industrial Average falls 77 points

The Dow fell 77.91 points, or 0.30%, to close at 25,734.97. The S&P 500 advanced 0.50% to 3,115.86. The Nasdaq Composite gained 0.95% to end the day at 10,164.63. Stocks traded higher for most of the session amid positive news on a potential coronavirus vaccine.

Vaccine data lifts sentiment

A study of a coronavirus vaccine candidate being developed by Pfizer and BioNTech showed the drug created neutralizing antibodies. The results were released online, but have not been reviewed by a medical journal yet. The company also said that, if the vaccine gets regulatory approval, it expects to make up to 100 million doses by year-end and "potentially" more than 1.2 billion by the end of 2021.

Pfizer jumps, Amazon and Netflix gain

Pfizer shares jumped 3.18% on the vaccine data released Wednesday. Amazon and Netflix gained 4.35% and 6.72%, respectively.

What happens next?

The U.S. government's monthly jobs report is set for release Thursday.

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