Left Menu
Development News Edition

US STOCKS-Futures gain as vaccine hopes offset U.S.-China tensions

U.S. stock index futures rose on Wednesday as investors took heart from signs of progress in developing a COVID-19 vaccine, looking past record daily death rates in some states and brewing tensions between Washington and Beijing. Moderna Inc's experimental vaccine showed it was safe and provoked immune responses in all 45 healthy volunteers in an ongoing early-stage study, boosting its shares by 13.9% in premarket trading.

Reuters | Washington DC | Updated: 15-07-2020 16:43 IST | Created: 15-07-2020 16:26 IST
US STOCKS-Futures gain as vaccine hopes offset U.S.-China tensions
Representative Image Image Credit: Flickr

U.S. stock index futures rose on Wednesday as investors took heart from signs of progress in developing a COVID-19 vaccine, looking past record daily death rates in some states and brewing tensions between Washington and Beijing.

Moderna Inc's experimental vaccine showed it was safe and provoked immune responses in all 45 healthy volunteers in an ongoing early-stage study, boosting its shares by 13.9% in premarket trading. American Airlines, United Airlines Holdings, Carnival Corp, Royal Caribbean Cruises Ltd, and Norwegian Cruise Line Holdings Ltd rose between 6% and 6.8%.

Wall Street futures and Asian equity markets had pared some gains earlier in the day after U.S. President Donald Trump ordered an end to Hong Kong's special status under U.S. law, prompting Beijing to warn of retaliatory sanctions. The three main U.S. stock indexes have recouped most of their losses from the coronavirus-led slump, with a raft of stimulus measures and encouraging economic data lifting the S&P 500 to within 6% of its record high in February.

With the second-quarter earnings season now underway, investors are looking for annual forecasts from marquee companies to gauge the pace of the rebound in Corporate America. Trading powerhouse Goldman Sachs rose 1% ahead of its quarterly report, a day after JPMorgan Chase & Co beat quarterly profit estimates due to a surge in trading revenue.

But the largest U.S. health insurer UnitedHealth Group Inc slipped 0.1% even as its second-quarter profit more than doubled. At 6:19 a.m. ET, Dow e-minis were up 274 points, or 1.03%, S&P 500 e-minis were up 26.75 points, or 0.84% and Nasdaq 100 e-minis were up 54.5 points, or 0.51%.

Apple rose 1.4% after Europe's second-top court rejected an EU order to the iPhone maker to pay 13 billion euros ($14.78 billion) in Irish back taxes.


TRENDING

OPINION / BLOG / INTERVIEW

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...

How UK’s 'best prepared' healthcare system failed to gauge COVID-19

The UK is proud of their public health system and its unlike any other country as around 90 percent of British public supports the founding principles of National Health Service. But without accurate data being available to stakeholders in ...

Poor on IHR capacity progress in 2019, WHO says Cambodia tops COVID-19 response

Despite being in proximity to Hubei, the original epicenter of COVID-19 pandemic, Cambodia has reported just 226 confirmed cases and zero deaths. After seeing the data, WHO appreciated Cambodias healthcare information system but experts dou...

Loopholes in Healthcare Information System may have failed Singapore COVID-19 model

In the initial days of the COVID-19 outbreak, Singapore was in the limelight for its effective healthcare system and pandemic response plan. However, Singapore has now joined the list of the worst-hit nations and the situation is even worse...

Videos

Latest News

U.N. agencies scramble to help Beirut warehouse blast victims

The deadly warehouse blast in Beirut this week devastated Lebanons already faltering healthcare system and U.N. agencies are scrambling to support hundreds of thousands of people, officials said on Friday.The United Nations announced an add...

Highest single-day spike of 1,833 COVID-19 cases in Odisha, toll 247

Odisha on Friday registered its highest single-day spike in COVID-19 cases and recovery with 1,833 people testing positive and 1,810 others being cured, a health official said. The toll in the state increased to 247 as 12 more patients succ...

Mizoram bans pig import in wake of ASF outbreak

The Mizoram government on Friday banned import of pigs and pig products such as pork sausage, frozen pork meat and smoked pork meat in view of the outbreak of African Swine Fever ASF in the neighbouring states. An order issued by the state ...

U.S. pandemic worse than Mexico, Lopez Obrador says after travel warning

Mexican President Andres Manuel Lopez Obrador said on Friday the United States had greater problems from the coronavirus than his country, a day after the U.S. State Department urged citizens not to travel south of the border, citing high c...

Give Feedback