Finance

Wall Street equities rebounded modestly, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite each advancing roughly 0.2%. The turnaround was heavily supported by the relief in bond yields and strong quarterly corporate earnings reports, though gains were slightly tempered by continued selling in some large-cap technology and semiconductor shares.

Shares of Moderna surged over 175% following the release of positive Phase 3 clinical trial results for its personalized mRNA cancer vaccine, developed in partnership with Merck. The massive rally propelled the broader healthcare sector to a record high, making it the top-performing industry segment of the day.

The release of minutes from the Federal Open Market Committee's July meeting highlighted a deepening divide among central bank policymakers. While the Fed ultimately held interest rates steady during that session, multiple dissenting members advocated for a quarter-point hike, warning that further increases may be required if inflation proves stubborn.