Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Vladimir Zernov
Source: Reuters

Moderna Reports That Its COVID-19 Vaccine Is 94.5% Effective

S&P 500 futures got another boost from vaccine news as Moderna reported that its coronavirus vaccine showed 94.5% efficiency in preventing the disease. Not surprisingly, Moderna’s shares are gaining about 15% in premarket trading.

Previously, Pfizer and BioNTech reported that their vaccine was more than 90% effective. Russia has also claimed that its COVID-19 vaccine called Sputnik V had an efficiency of more than 90%.


Various vaccines are showing great efficiency in fighting the virus which increases chances for a return to normal life sometime in 2021. The vaccine optimism helps investors to shrug off worries about the current situation on the coronavirus front and focus on post-pandemic future.


Asian Economies Continue To Rebound

Markets were gaining ground even before Moderna provided an update on its vaccine as investors cheered the recent economic reports from China and Japan.

China reported that its Industrial Production grew by 6.9% year-over-year in October while analysts expected growth of 6.5%. Meanwhile, Retail Sales grew by 4.3% as consumer activity continued to rebound.

China’s Unemployment Rate declined from 5.4% in September to 5.3% in October. Back in January 2020, China’s Unemployment Rate was also 5.3% so the country’s job market returned to its pre-pandemic state.

Meanwhile, Japan’s third-quarter GDP grew by 5% quarter-over-quarter compared to analyst consensus which called for growth of 4.4%.

The continued rebound of Asian economies boosts investors’ mood and provides support to riskier assets at a time when Europe and U.S. struggle to contain the pandemic.

Oil Gains Ground, Gold And Silver Fall On Vaccine News

Oil gained strong upside momentum after the release of vaccine news and made an attempt to settle above the $42 level. Oil remains highly sensitive to developments on the coronavirus front, and any positive news about COVID-19 vaccines provide significant support to oil.

At the same time, gold and silver found themselves under pressure as investors’ risk appetite increased while demand for safe haven assets decreased.

As a result, today’s trading session is set to be a good one for energy-related stocks while precious metals miners will likely find themselves under pressure.

For a look at all of today’s economic events, check out our economic calendar.

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.