London Capital Group | Nov 17, 2020 08:03
The Dow Jones has closed at another record high thanks to trial results showing that the Moderna COVID-19 vaccine is nearly 95% effective.
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U.S. stocks jumped on Monday after preliminary coronavirus vaccine data from Moderna further lifted expectations of a strong economic recovery. The S&P 500 rose 1.2%, posting an all-time closing high. Stocks that would benefit from the economy reopening led the way higher. United Airlines was up 5.2%, and Carnival (NYSE:CCL) closed 9.7% higher. Moderna shares jumped nearly 10% on the day. European stocks close higher on vaccine hopes; BBVA up 15% as it agreed to sell its U.S. business to PNC for $11.6 billion. Bitcoin soared to over $16,800, its highest level since $16,800. Oil prices ended the day higher on vaccine hopes presumably, but once again staled at $42 and faded back.
Moderna said Monday that its coronavirus vaccine was more than 94% effective during a late-stage trial. The promising announcement makes the Massachusetts-based biotech firm the second drug maker to say it has a potentially effective vaccine.
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