Moderna CEO Stephane Bancel joins ‘Mornings with Maria’ to discuss vaccine breakthrough.
Stock futures jumped after Moderna announced its COVID-19 vaccine was 94.5% effective in patients participating in its Phase III trials, as parts of the country – including Oregon and New Mexico – announced new stay-at-home measures to curb the spread of the virus.
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Moderna’s CEO Stephane Bancel told FOX Business the vaccine could see FDA approval in the next several weeks to months.
“The emergency use approval I think could happen in December and then I think in Q1, the first quarter to have a full approval were every American who wants a vaccine that is of 18 years of age can get access to a vaccine,” said Bancel during an appearance on ‘Mornings With Maria’ Monday.
STOCK FUTURES JUMP
Dow Jones Industrial Average futures rose 500 points or 1.7%, while the S&P 500 tacked on 1%. The tech-heavy Nasdaq Composite was lower by 0.3% as of 8:30 a.m. EST.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 29479.81 | +399.64 | +1.37% |
| SP500 | S&P 500 | 3585.15 | +48.14 | +1.36% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11829.285546 | +119.70 | +1.02% |
Moderna shares rose more than 15% in early trading putting other vaccine makers in the spotlight for investors again, after Pfizer and its German partner, BioNTech, announced that its coronavirus vaccine proved 90% effective in late-stage trials.
COVID-19 CASES SURGE
Cases of COVID-19 have surged around the U.S. and the globe in recent days, with the U.S. adding close to 1 million cases over the past week, according to data compiled by Johns Hopkins University.
The U.S. has now topped 11 million cases, the most on the planet.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PFE | PFIZER INC. | 38.62 | +1.07 | +2.85% |
| BNTX | BIONTECH SE | 106.00 | +4.37 | +4.30% |
| MRNA | MODERNA INC. | 89.39 | +1.58 | +1.80% |
NEW YORK’S ROLLBACK OF CORONAVIRUS REOPENINGS THREATENS RENTAL MARKET RECOVERY
New York’s manufacturing index came in weaker-than-expected, with a reading of 6.3, compared to expectations of 12.8 for the month of November.
Investors will build on a robust week for U.S. stocks after the S&P 500 hit a fresh record and the Russell 2000, a benchmark of domestic-focused companies, also hit a record on Friday passing levels not seen since August 2018.
For the week, the Dow tacked on about 4%, the S&P over 2% while Nasdaq slipped 0.5%. This came as global investors pumped a record amount of money into equity funds.
GLOBAL STOCK FUNDS SEE RECORD INFLOWS ON PFIZER’S VACCINE NEWS
European indices also continued to rise on Monday, with the STOXX Europe 600 rising 0.7%, due in part to Spanish lender BBVA surging after PNC Financial Services Group said it would buy its U.S. business for $11.6 billion.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PNC | PNC FINL SVC | 122.78 | +1.78 | +1.47% |
SPACEX LIFTS OFF
Space stocks will likely see some action after the successful launch of Elon Musk’s SpaceX rocket Sunday evening set the tone for more advances in the industry. Virgin Galatic shares were lower Monday morning.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 408.50 | -3.26 | -0.79% |
| SPCE | VIRGIN GALACTIC HOLDINGS INC. | 22.27 | +0.65 | +3.01% |
| UFO | PROCURE ETF TRUST II PROCURE SPACE ETF | 23.70 | +0.69 | +3.02% |
MUSK, BEZOS, BRANSON LEAD BILLIONAIRES SPACE RACE
RETAIL EARNINGS ON DECK
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 150.54 | +2.31 | +1.56% |
| TGT | TARGET CORP. | 162.88 | +3.35 | +2.10% |
| HD | THE HOME DEPOT INC. | 277.17 | +0.93 | +0.34% |
| LOW | LOWE’S COMPANIES INC. | 159.23 | +1.25 | +0.79% |
Retail earnings are on deck this week, with Walmart, Target, Home Depot and Lowe’s among the companies set to report results.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JD | JD.COM INC | 92.08 | +5.70 | +6.60% |
| BIDU | BAIDU INC. | 145.08 | +2.61 | +1.83% |
However, traders will keep their eyes on e-commerce names out of China on Monday, as JD.com and Baidu report results after the close of trading.
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CRUDE CLIMBS
Crude oil continued its march higher, rising 1.7% to $40.80 per barrel. In other commodities, gold rose slightly to $1,889.60 an ounce.
