Stocks of US companies rose on Monday, heading towards setting new records, and this came after Moderna announced the great effectiveness of its experimental vaccine for the Corona virus, which heralds the victory over the virus and the recovery of the global economy from the severe recession.
Moderna stated that the preliminary analysis of the third phase of vaccine development tests showed an effectiveness of 94.5% on the virus, while Pfizer previously stated that its vaccine, which is being developed with the German company BioNTech, is 90% effective, and both vaccines need to be given two doses to ensure effectiveness, and there are many vaccines Promising is under development.
US stock indices rose after Moderna announced the results, as the Dow index rose by 1.38% (equivalent to 330 points) at the opening of trading, and the S&P 500 rose by 0.75%, in addition to Moderna shares rising by 11%.
This indicates that the news about President Donald Trump denying the loss of the American elections, or about the new waves of the spread of Corona in the United States and Europe, or any news about Britain’s exit from the European Union is no longer important for the stock market at the present time, and that the most important thing on which the markets are based Currently, the possibility of discovering an effective vaccine for the virus.
There are still concerns among investors that curb their enthusiasm, as the distribution and marketing of the vaccine will take many months, coinciding with the high number of infections in the United States and the general closures for the second time in major countries such as France, Germany and Britain.
But Moderna said on Monday that it expects to have about 20 million doses ready for shipment in the United States by the end of this year, and is on track to produce between 500 million and 1 billion doses for the world in 2021, while Pfizer said last week that it expects to have 50 million doses ready for distribution to a warehouse. the world by the end of this year and 1.3 billion doses in 2021.