U.S. stocks soared at the start of Monday trading after drugmaker Moderna announced positive, early results from its first human trial of its experimental Covid-19 vaccine.
On Friday, the Dow rose 61 points, or less than 0.3%, to 23,685.42, while the S&P 500 rose 11.20 points, or 0.4%, higher to end the session at 2,863.70. The Nasdaq Composite Index closed at 9,014.56 after gaining 70.84 points, or 0.8%. “These interim Phase 1 data, while early, demonstrate that vaccination with mRNA-1273 elicits an immune response of the magnitude caused by natural infection starting with a dose as low as 25” micrograms, Moderna chief medical officer Dr. Tal Zaks said in a news release. The next step is a Phase 2 trial, which has been approved to move forward by the Food and Drug Administration. The trial was done in partnership with the National Institute of Allergy and Infectious Diseases.
That said, the monetary-policy maker struck a cautiously sanguine tone about the likelihood for a rebound for an economy that has shown signs of the extreme toll taken on it by measures put in place to limit the spread of the pathogen. Meanwhile, data on Monday showed Japan’s economy, shrank by an annualized 3.4% in the three months ended March 31 after a 7.3% contraction in the previous quarter, meeting the commonly accepted definition for a recession.
Rising cases in the U.S., however, where there are more than a third of the 4.7 million world-wide infections, has underpinned fitful trade in assets considered risky. Deaths in the U.S. rose above 89,500, more than a quarter of the more than 315,000 world-wide, according to figures from Johns Hopkins.
LMFAO nothing is real right now no guidance massive unemployment more to come fake liquidity earnings terrible etc etc etc .. I digress Reality is Hopium is an addicts dream right now
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