Stocks directly tied to an economic reopening jumped following the vaccine news.
Stock futures climbed higher in overnight trading on Tuesday after Moderna said its coronavirus vaccine produced antibodies in all patients in an early trial, raising hope for a faster economic recovery.
Futures on the Dow Jones Industrial Average jumped 300 points, pointing to a 270-point gain at Wednesday’s open. The S&P 500 futures and the Nasdaq 100 futures rose 0.7% and 0.5%, respectively.
Biotech Moderna’s potential vaccine to prevent Covid-19 produced a « robust » immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial, according to newly released data published Tuesday evening in the peer-reviewed New England Journal of Medicine.
Shares of Moderna surged more than 12% in after-hours trading on Tuesday. Stocks directly tied to an economic reopening jumped following the vaccine news.
