Microsoft, Apple lead stocks higher


Johannes Eisele | Getty Images

Dow Jones Industrial Average rises 236 points

Microsoft and Apple jump

Eli Lilly trial and strong manufacturing data also lift market

Eli Lilly announced the start of a phase 3 trial of LY-CoV555, an experimental coronavirus antibody treatment that may prevent the virus from spreading among U.S. nursing home staffers and residents. The stock gained 1.70%. Stocks got a boost from better-than-expected manufacturing data. The Institute for Supply Management’s manufacturing PMI rose to 54.2 in July, topping a Dow Jones estimate of 53.8.

What happens next?

Investors will keep an eye on Washington as lawmakers try to make progress on a new coronavirus stimulus package. Disney, Beyond Meat and Nikola are among the companies set to report.

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