US Markets Rise on Optimism

Updated: Jun 12, 2020

Investors bet on the economy reopening and a vaccine breakthrough.

Stock futures traded sharply higher early yesterday to begin a holiday-shortened week, as optimism grew about the reopening of the economy and a potential coronavirus vaccine.

From a vaccine perspective, here's what the market was interested in:

American biotech company Novavax said Monday it started the first human study of its experimental coronavirus vaccine. The company said it expects initial results on safety and immune responses in July. Last week, another biotech Moderna reported positive development on its vaccine trial where all 45 participants had developed coronavirus antibodies. There are 10 vaccines in clinical evaluation and 114 in pre-clinical evaluation, according to a running tally by Fundstrat.