Optimism is exploding.
The Dow Jones is up another 188 points on the day. The S&P 500 tacked on 24, with the NASDAQ up more than 29 points.
All thanks in part to COVID-19 vaccine news from Moderna (MRNA) – a stock we highlighted as a buy at $74 two days ago. Now at $80 a share, it could easily run higher on news its COVID-1 vaccine was found to induce immune responses in every volunteer in a Phase 1 study.
“These early results, published in the New England Journal of Medicine on Tuesday, showed that the vaccine worked to trigger an immune response with mild side effects — fatigue, chills, headache, muscle pain, pain at the injection site — becoming the first US vaccine candidate to publish results in a peer-reviewed medical journal,” says CNN.
There’s hope MRNA can offer even bigger, better news on its vaccine shortly.
After all, we’re in desperate need for a vaccine to prevent another round of closures, infections, and unfortunate deaths. All of which is concerning to the World Health Organization.
“Let me be blunt, too many countries are headed in the wrong direction, the virus remains public enemy number one. If basics are not followed, the only way this pandemic is going to go – it is going to get worse and worse and worse,” said WHO.
On top of that, U.S. cities like Atlanta, Los Angeles, and San Diego will keep schools closed this Fall. Businesses throughout California are being locked down. Hospitals are being overwhelmed with patients. All as it appears global economies opened far too soon.
Los Angeles is on the verge of closing up shop again.
In fact, Mayor Eric Garcetii just said, “We’ve never had as many people [in L.A.] infected, or infectious. We’ve never had as many recorded positive cases each day, and we’ve never had as many people in the hospital as there are tonight as I speak to you.”
If a company like MRNA can help diffuse the fear of the virus, we could see Dow 30,000.