The Dow Jones Industrial Average climbed 287 points, or 0.8%, on Friday as investors reacted to escalating Iran-related tensions and renewed speculation over potential Trump-era tariffs. Moderna's stock surged 14% on strong trial data for a new mRNA cancer vaccine, boosting tech and healthcare sectors.
- Dow Jones Industrial Average up 287.14 points (0.8%) to 35,742.21
- CL=F crude oil futures rose 2.3% to $87.45 per barrel
- Moderna (MRNA) shares surged 14.3% on positive cancer vaccine trial data
- S&P 500 Health Care Index gained 1.7%
- ^VIX volatility index increased to 18.6
- Defense stocks (LMT, RTX) rose 1.5% and 1.8% respectively
The Dow Jones Industrial Average closed higher, gaining 287.14 points (0.8%) to reach 35,742.21, as market participants navigated a volatile mix of geopolitical risk and corporate earnings momentum. The advance came despite rising concerns over Middle East instability, with Iran's recent missile tests and regional military posturing sparking renewed fears of oil supply disruptions. Crude oil futures (CL=F) rose 2.3% to $87.45 per barrel, reflecting heightened risk premiums in energy markets. Moderna Inc. (MRNA) led gains among major equities, surging 14.3% after announcing positive Phase 2 results from a novel mRNA-based cancer immunotherapy. The data showed a 68% reduction in tumor recurrence among high-risk melanoma patients, fueling investor optimism about the company’s pipeline beyond vaccines. The move lifted the broader healthcare sector, with the S&P 500 Health Care Index up 1.7%. Meanwhile, volatility remained elevated, with the CBOE Volatility Index (^VIX) closing at 18.6, up 4.2% from the prior session. The increase reflects traders’ cautious stance ahead of upcoming U.S. trade policy signals and potential retaliatory measures from key trading partners. Analysts noted that renewed speculation over tariff reimpositions—particularly on semiconductors and steel—could impact manufacturing and inflation outlooks in the coming quarters. The rally was broad-based, with the S&P 500 gaining 0.9% and the Nasdaq Composite rising 1.2%. Defense stocks, including Lockheed Martin (LMT) and Raytheon Technologies (RTX), also posted gains, rising 1.5% and 1.8% respectively, as geopolitical uncertainty fueled demand for military readiness assets.