Stock futures rose on Monday after Moderna (MRNA) – Get Report stated the coronavirus vaccine was 94. 5% effective in the final phase of clinical trials.
Moderna 94. The 5% Efficacy Rate Exceeds the 90% Threshold Reported by Pfizer (PFE) – Get a report last week, and note that the vaccine can last for up to six months when stored at standard freezing temperatures.
The drug’s manufacturer said it expects to apply for emergency use permission from the United States. s. Food and Drug Administration in the coming weeks.
Contracts related to the Dow Jones Industrial Average rose 532 points, S&P 500 futures rose 47 points, and Nasdaq futures rose 38 points. .
The S&P 500 closed at a record high of 3585 on Friday and is up by 2. 2% for the week amid growing optimism about a coronavirus vaccine. Yo. s. Over the weekend, it surpassed 11 million known cases of Covid-19, the disease caused by the Coronavirus.
Futures were higher on Monday morning after advisers to President-elect Joe Biden said they opposed a nationwide lockdown but favored targeted measures to control the increase in the United States.. s. Coronavirus cases.
Vivek Murthy, who is the co-chair of Biden’s Coronavirus Advisory Council, said strict lockdowns aren’t always necessary if people comply with less restrictive measures such as wearing masks and social distancing..
“If we shut down the entire country without targeting our efforts, it would exacerbate the“ epidemic fatigue ”people feel, it would harm jobs and the economy, close schools and harm the education of our children.” Murthy, Who Yu. s. The general surgeon told Fox News Sunday.
Equities in Asia ended Monday’s session with sharp gains following growth signals in both Japan and China.
Monday earnings reports expected from Palo Alto Networks (PANW) – Get Report, Baidu (BIDU) – Get Report, SmileDirectClub (SDC) – Get Report, and Tyson Foods (TSN) – Get Report.
Reports are expected later in the week from Walmart (WMT) – Get a Report, Home Depot (HD) – Get a Report, Lowe’s (LOW) – Get a Report, Kohl’s (KSS) – Get a Report, NIO (NIO) – Get Report, Nvidia (NVDA) – Get Report, Target (TGT) – Get Report, TJX Cos. (TJX) – Get a Report, Macy’s (M) – Get a Report and Workday (WDAY) – Get a Report.
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US economic calendar. s. Monday includes the Empire State Manufacturing Index for November at 8:30 am. M. ET.
Weekly retail sales, housing starts and jobless claims data will be released during the week.
PNC Financial Services (PNC) – Get Report has reached an agreement to acquire U. s. Spanish company BBVA banking operations for $ 11. 6 billion.
The trade will create the fifth largest U. s. A retail bank with more than $ 550 billion in assets, according to the Wall Street Journal, which first reported on Sunday that the two banks are close to reaching a deal..
PNC said in a statement on Monday that it expects profit from the deal to increase by 21% in 2022. PNC said the merger and integration costs were estimated at $ 980 million, with more than $ 900 million in cost savings from the deal.. .
Simon Property (SPG) – Get Report of Competing Taubman Centers (TCO) – Get Report for $ 43 a share, down from the original price of $ 52. 50 companies agreed to return in February, before the coronavirus pandemic.
The deal will also end litigation between the two companies. The trial was due to start on Monday.
Simon canceled his original deal to buy Taubman for $ 3. 6 billion and sought in court to end the deal. Bloomberg noted that many analysts speculated that the move was a negotiating tactic to obtain a better price for the deal..
Walmart will sell most of its stake in Japan’s Seiyu supermarket chain to KKR & Co. (KKR) – Get over $ 1 billion report and e-commerce company Rakuten.
KKR, the private equity fund, will own 65% of Seiyu while Rakuten will acquire 20% stake. Walmart will retain 15%.
Walmart entered Japan for the first time when it bought a 6% stake in Seiyu in 2002. The world’s largest retailer in the country struggled from intense domestic competition.
Stocks, Stock Exchange, PNC Financial Services, Moderna, Dow Jones Industrial Average, Virgin Galactic
World News – GB – Moderna, PNC, JD. Com, Walmart, Covid-19 – 5 things you should know on Monday
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– Moderna, PNC, JD. Com, Walmart, Covid-19 – 5 things you both need to know.
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