Dow futures are down another 202 points. The NASDAQ is pointing to a loss of 40 points at the open with S&P 500 futures down 25.
While China says it has the virus under control, we’ve heard that before. India saw 2,000 new cases in a day. Brazil saw 35,000 cases in about 24 hours. And we’re seeing a tick higher in cases throughout the U.S., including Alaska, Arkansas, Florida Kentucky, Mississippi, North Carolina, Oregon, South Carolina, and Utah. Just yesterday, Arizona reported even more cases. Texas, according to CNBC, saw an 11% spike in cases.
Not only could this lead to another shutdown, it could lead to another round of big demand for face masks, and desperate calls for a vaccine.
Face mask company Alpha Pro Tech (APT) could see higher highs with demand.
Lloyd Hoffman, President and CEO of Alpha Pro Tech, commented, “The unprecedented surge in demand for our personal protective equipment, otherwise known as PPE, resulting from the outbreak of the coronavirus, COVID-19, particularly our N-95 Particulate Respirator face mask and face shields, drove quarterly sales and significantly higher gross profit for the first quarter.”
Moderna (MRNA) should soar as it nears a vaccine, as well.
Moderna CEO Stephane Bancel says there’s “high probability of success” with its vaccine.
“It works on MERS, Zika and CMV and so on. When you have the right sequence … you will get neutralizing antibodies,” he told CNBC.
And, according to the company there are top reasons why its vaccine could be a success. For one, messenger RNA can deliver genetic instructions to body cells to make proteins, reports CNBC. Two, this is now the tenth vaccine the company has brought to human trials.
And three, says CNBC, the company’s previous work on MERS was caused by the same virus in the same coronavirus family, as COVID.