A Good Time To Invest?
Stocks shoot upwards, including a 900 point spike in the DOW (to 24,597), with the news that a Massachusetts medical company has a vaccine showing very positive Phase 1 results fighting the COVID-19 virus, and states forge ahead opening businesses.
The company, Moderna, has completed Phase 1 studies that showed their vaccine “Neutralizes” the virus “comparable to antibodies found in recovered patients”. Moderna stock jumped 22% on the news. The primary purpose of the Phase One portion, done with volunteers, is to test the vaccine’s safety and look for side effects, of which no serious complications were found. Now they will advance to Phase Two studies.
Other factors that spiked the market included massive investments by Saudi Arabia in Boeing and other US stocks, along with plans for manufacturing and retail openings. Three big USA auto makers also reopened today.
Photo Credit: From MarketWatch today