Moderna's Cancer Vaccine Boosts Stocks as US Market Rebounds

The US stock market rebounded today after three days of losses, as major indexes including the Dow Jones Industrial Average and S&P 500 rose modestly. The Dow gained 0.22% to reach 53,463, while the S&P 500 inched up 0.21% to 7,708. The Nasdaq Composite also increased by 0.16% to 26,331.

The main driver of today's gains was Moderna (MRNA), which saw its stock more than double after the company announced positive late-stage trial results for a personalized mRNA cancer vaccine in partnership with Merck (MRK). The shares of Merck also rose by 13% on the news, as investors anticipated potential future applications of the treatment.

Other notable movers included Target (TGT), which reported better-than-expected Q2 earnings with sales up 5.3%, and same-store sales rising 3.8%. The company noted that most business segments delivered growth, except for apparel and home furnishings and decor.