Fox News medical contributor Dr. Marty Makary explains how the Johnson & Johnson vaccine differs from Pfizer and Moderna and says mitigation steps should no longer be required after vaccination.
Stock futures rallied Monday morning as investors celebrated the approval of a third COVID-19 vaccine and as the U.S. House of Representatives passed a $1.9 trillion relief package.
President Biden’s COVID-19 relief package cleared House in a 219 to 212 vote, mostly along party lines, that saw two Democrats vote against the measure.
The bill, which gives $1,400 checks to most Americans and extends unemployment benefits among other things, has been criticized by Republicans as a “blue state bailout” with only 9% of the money going towards pandemic relief.
BITCOIN BUYERS PUNISHED BY SURGING BOND YIELDS
Dow Jones Industrial Average futures were higher by 360 points, or 1.16%, while S&P 500 futures and Nasdaq Composite futures gained 0.98% and 1.26%, respectively.
In stocks, Johnson & Johnson’s single-shot COVID-19 vaccine received emergency-use authorization from the U.S. Food and Drug Administration and is expected to begin shipping 4 million doses immediately.
News of another vaccine boosted airlines, cruise ship operators and other companies that have been hit hard by restrictions aimed at slowing the spread of COVID-19.
Elsewhere, ExxonMobil Corp. shares spiked after CNBC reported activist investor Jeff Ubben will join the company’s board of directors.
In earnings, Berkshire Hathaway reported operating income, Warren Buffett’s preferred performance measure, rose 14% from a year ago. The company, which bought back $25 billion of stock in 2020 plans to continue share repurchases in the current fiscal year.
DraftKings Inc. received multiple upgrades and price target hikes after the sports-betting platform last week raised its outlook for the current fiscal year.
In commodities, West Texas Intermediate crude oil rose 59 cents to $62.09 per barrel and gold ticked up $14.50 to $1,743.30 an ounce.
READ MORE ON FOX BUSINESS BY CLICKING HERE
Global markets were higher across the board.
France’s CAC 40 paced the advance in Europe, trading up 1.12%, while Britain’s FTSE 100 and Germany’s DAX 30 climbed 1.08% and 0.69%, respectively.
In Asia, Japan’s Nikkei 225 surged 2.41%, Hong Kong’s Hang Seng index advanced 1.63% and China’s Shanghai Composite index rose 1.21%.
