Stocks surge on positive COVID-19 vaccine news

Stocks are surging Wednesday on positive COVID-19 vaccine news from Moderna which said its coronavirus vaccine 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.

Fred Imbert and Yun Li for CNET:

stock chartThe Dow Jones Industrial Average traded 326 points higher, or 1.2%. The S&P 500 gained 1.1% and the Nasdaq Composite advanced 1%. Wednesday’s gain put the S&P 500 just below breakeven for 2020.

Shares of Moderna surged 10%. Stocks directly tied to an economic reopening jumped following the vaccine news.

“A COVID-19 cure/vaccine is a binary event for markets, and there are many ‘shots on goal’ on the healthcare side and only one needs to be successful,” said Tom Lee, founder and head of research at Fundstrat Global Advisors, in a note. “There are piles of cash seen in hedge funds, macro funds, mutual funds and individual investors. If the cadence of healthcare data continues to support some sort of cure, the focus on ‘re-closings’ ultimately fades.”

Apple contributed to the gains Wednesday, rising 1.6% after a European Union court annulled a 2016 European Commission order for the tech giant to pay $15 billion in taxes.

MacDailyNews Take: Again, until we get a COVID-19 vaccine, which will hopefully come more quickly than previously thought possible as Operation Warp Speed looks to accelerate development by funding steps to proceed simultaneously versus the usual sequential process, try to be as safe as you can be – wash your hands frequently, keep your hands away from your face, wear a mask in public, practice social distancing, etc.

The CDC guidelines for how to protect yourself and others — especially older adults and people who have severe underlying medical conditions like heart or lung disease or diabetes and are at higher risk for developing serious complications from COVID-19 — are here.

19 Comments

  1. I’m pretty tired of the whole pangolin pandemic panic and the manifest bullSchiff surrounding every aspect of it. I’m not a COVID Truther. There’s a virus. It makes people sick. It can kill old people and people with other health problems. Everyone else is pretty much safe. Not everyone, but the vast majority. And it’s time to get on with our lives. – KKurt Schlichter, July 15, 2020

    It’s time to get on with our lives, indeed.

    Wear masks. Socially distance. Stop destroying the economy based on hysterics. ENOUGH.

    1. Hear, hear! Common sense is not yet completely dead, I see.

      The COVID-19 epidemic is almost over. Daily mortality rate is decreasing. The percentage of daily COVID-19 deaths in the US has been declining for ten straight weeks.

      1. The “threat” is to the old and health compromised. Save your three examples of a young death (they were health compromised or mistreated in some fashion).

        Quarantine the vulnerable, not everyone.

        You and your ilk have likely killed far more than 138,000 by destroying untold lives, businesses, families, and jobs. Hey, you’re struggling to get your death count up lately – that should tell you something, if you could think for yourself.

        1. We need to open up society, says the man who has also told us that he has been self-isolating at his lake house since January. As for the claim that only old folks die, the early death toll were skewed by nursing home outbreaks. We are now seeing cases skewed towards bar patrons. Even with that early bias, the CDC reported on July 10:

          “35% of Hispanic fatalities and 30% of African-American deaths were under 65 years of age, compared to 13% of white deaths.” Even 13% of 138,000 is more than three.

          1. The “threat” is to the old and health compromised.

            COVID-19 preys on the obese, diabetics, and those with breathing issues (asthma, COPD, etc.)

            Hispanics are more likely than the general population to develop diabetes. It is estimated that 2.5 million, or 10.4 percent of Hispanic and Latino Americans aged 20 and older have diabetes. Hispanics also are more likely to have undiagnosed diabetes than non-Hispanic whites and non-Hispanic blacks.

            http://www.idph.state.il.us/idhp/idhp_HispanicRiskForDiabetes.htm

            Blacks, relative to Whites, are more likely to live in neighborhoods with a lack of healthy food options. Additionally, Blacks are more likely to live in densely populated areas, further heightening their potential contact with other people and pollution. They represent about one-quarter of all public transit users. Blacks are more likely to be part of the new COVID-19 “essential” workforce. Blacks represent nearly 30% of bus drivers and nearly 20% of all food service workers, janitors, cashiers, and stockers. Non-Hispanic black adults had the highest prevalence of obesity (38.4%) overall, followed by Hispanic adults (32.6%) vs. non-Hispanic white adults (28.6%).

            Shall I go on, or can even you grasp the facts by now?

            By the way, I earned my ability to be on a lake vacation for the rest of my natural life (several lifetimes, in fact) if I so desire.

            It is none of your business what I do. This is still a free country despite your best attempts, commie.

            1. And what’s your explanation for the recent age pattern for hospitalizations: 32% are over 65 and 42% under 50? In any case, are you suggesting that the lives of senior citizens, persons with disabilities, and minorities are somehow less worthy of government action to protect them than other Americans? What happened to

              “Give me your tired, your poor,
              Your huddled masses yearning to breathe free,
              The wretched refuse of your teeming shore.
              Send these, the homeless, tempest-tost to me.”

            2. TxLoser,

              Americans are fucking fat.

              Look around, genius.

              And, yes, gluttons deserve to die. In fact, it’s downright Darwinian.

              The daily diet of one average fat American pig could feed an Ethiopian village for a week.

              Satisfied, you endlessly handwringing pansy?

            3. TxUser,

              Blah, blah “government action to protect them” blah. blah:

              “Quarantine the vulnerable, not everyone.” – Someone much smarter than you

              And, btw, “government action” is shit, in general. It’s the solution to pretty much nothing beyond blowing people and things up when they need to be blown up. Unless you like endless cycles of subsistence dependency in an illogical exchange for Democrat votes (which, of course, you do).

              The nine most terrifying words in the English language are: I’m from the Government, and I’m here to help. — Ronald Reagan

            4. Do whatever u want as long as you dont do it on the expense of others. Live your life to the fullest, read, enjoy the nature, love. Why should the ”government help” you? You apparently can manage on your own but others who from all legitimate reasons dont do so good, i expect they would be glad to hear those words. Thats what taxes are for, redistribute wealth (to some degree) so the sick and needy are cared for. Thats not communism, its common decency. The times of the wild west are long behind…

        2. Canada just closed its border to the Divided States of America until late August. Since we listen to our science experts, COVID here is under very good control and the economy is picking up. People are slowly seeing a life returning to a semblance of normal… understanding that (because Canadians are smart) we just need to be cool until the vaccine appears. Not a big deal to wear a mask here and there since we respect our elders and our veterans and have an innate protect them. They are us in a few years. So First Then…go to your stupid lake house because you EARNED IT (that speaks volumes about your self-serving, hedonistic view of life eh?).
          Here we are assembling a collection to build a wall since we are bright enough to understand that you will not pay for it (btw, how much money has Mexico donated to the wall? Nothing you say?)

    1. That’s right! Anything that happens or doesn’t happen, whether good or bad is the fault of the Administration. The super left libs have lost their minds! Haha!

    2. This administration is responsible for thousands of deaths and more to come, particularly crippling scientists and inevitably rushing treatments and vaccines before they’re fully tested. In the meantime, have fun drinking your bleach and lysol- Cheers.

  2. The fat lady hasn’t entered the stadium yet, let alone sung. Wait and see how long the antibodies persist before declaring victory.
    Many reports from recovered patient studies report that a majority would be susceptible to reinfection within three months with depleted antibody levels. IOW an endemic virus which means multiple continuous vaccines every year for viral mutations.
    Several worldwide vaccine programs have announced “encouraging antibody responses” but we will only really know in about nine months time that antibody persistence is real. Any vaccine will need to be at least as effective as a flu jab in order to overcome the percentage of antivaxers who will continue to circulate Covid-19 and cause infection spikes anywhere.
    Then there’s safety testing for age groups, blood type, ethnicity, drug interaction for existing medical conditions and much more.
    So let’s say one to two years before we begin to suppress reinfection in 75% of the population. It’s not quite “we’ve only got one shot at this so it has to be a bullseye “ but it’s pretty close given the reckless denial of best practice and science so far for this pandemic.
    Anybody who thinks Wall St is in any way relevant to vaccine development, is badly informed. Truth is, Wall St would rally on discovery of an albino rat if money is to be made.

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