Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
David Becker

The Dow Jones Industrial Average hit an all-time intra-day high on Monday following the news of Moderna’s vaccine results. The Dow Industrials was the best performer of the major averages, as Energy shares outperformed. Most sectors in the S&P 500 index were higher on Monday, led by Energy and Materials, Healthcare shares bucked the trend. The dollar moved lower on Monday helping to buoy gold prices as well as Bitcoin which made a new 35-month high. Oil prices continue to move higher helping to buoy the energy sector. Stronger than expected Japanese and Chinese data helped buoy yields.

Moderna Vaccine News Lifts Markets

On Monday, Moderna announced the results of its phase-3 trial for a coronavirus vaccine. The company said that it saw 94.5% efficacy, with very few patients getting the COVID-19 disease. Moderna said that there were 30,000 people in its phase-3 trial, and of those 5 who did not receive a placebo, got COVID-19. The benefits of the Moderna vaccine is that it is an RNA protein messenger drug. It sends a message of a spile protein to your body and your immune system prepares you for defense against COVID-19. Additionally, Moderna said that the vaccine can be stored at 36-46 degrees Farenheight for up to 30-days which is much warmer than the vaccine produced by Pfizer. The news of the results helped buoy riskier assets especially stocks that have been beaten down.


Biden Meets with Business Leaders

President-elect Joe Biden hosted a joint meeting Monday with labor union leaders and the chief executives of major tech, retail, and auto companies. This included GM, Microsoft, Target, and Gap. It also included leaders of the AFL-CIO, the SEIU and the UAW. The meeting was to discuss business as well as what the country would need to defend itself from the surging number of people impacted by the coronavirus. Biden said at the start of the meeting. “We face a dark winter ahead with Covid.”

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.