Wall Street Rises on Tesla, Moderna Gains as Cryptocurrencies Continue Rally

The Dow Jones Industrial Average (DJI) rose by 1% to close at 53,277.01 on Friday, while the S&P 500 Index added 0.4% to reach 7,674.37 and the Nasdaq Composite Index improved by 0.4% to 26,180.46.

The gains were driven in part by strength in key tech and non-tech stocks, including Tesla (TSLA), which rose 5.1% after unveiling plans to launch its all-electric semi truck in Europe and receiving authorization from Nevada authorities to roll out robotaxis in Las Vegas.

Merck & Co (MRK) also gained 2.4%, while Moderna (MRNA) added another 8.9% on the heels of a successful Phase 3 trial for its experimental personalized cancer vaccine, which it developed with Merck.

Cryptocurrencies continued their multiday rally, with Bitcoin adding 6.4% to $77,161.82 and Ethereum gaining 3.8% to $2,416.10.