Stock index futures were aiming for a higher start for Wall Street on Wednesday as investors buoyed up with positive results for a COVID-19 vaccine candidate, looking beyond a continued rise in US cases. USA -Chinese tensions.
What are the main indexes doing?
Futures in the Dow Jones Industrial Average YM00,
it was up 490 points, or 1.9%, to 26,981, while futures S&P 500 ES00,
it advanced 42.15 points, or 1.3%, to 3,225.75. Nasdaq-100 NQ00 futures,
They rose 73.75 points, or 0.7%, to 10,720.
The Dow DJIA,
on Tuesday it gained 556.79 points, or 2.1%, to finish at 26,642.59, while the S&P 500 SPX,
It advanced 42.30 points to finish at 3,197.52, a 1.3% gain, as energy and materials stocks recovered. The Nasdaq COMP Composite Index,
it closed with a gain of 97.73 points, or 0.9%, to settle at 10,488.58, erasing the losses seen earlier in Tuesday’s session.
What is driving the market?
Global actions were later optimized Modern Inc.
MRNA
He said his coronavirus vaccine candidate produced a “robust” immune system response in a larger group of people and that the study would move to a landmark clinical trial in July.
In addition, the British television network ITV reported on speculation about potentially positive developments for an Oxford vaccine candidate backed by AstraZeneca PLC AZN,
AZN
“Investors hope that we are getting closer and closer to finding effective treatments for the coronavirus and the end of the pandemic, which could then open the way for a major rebound in economic activity with so much stimulus money already established by the governments and central banks. ” “Fawad Razaqzada, market analyst at ThinkMarkets, said in a note.
The second-quarter corporate earnings reporting season continues, after kicking off Tuesday with results from a trio of major banks. Dow component Goldman Sachs Group Inc.
GS,
GS,
On Wednesday, it delivered results that exceeded expectations for revenue and earnings, with shares rising more than 4% in pre-market action.
Meanwhile, President Donald Trump said Tuesday night that he signed a bipartisan bill that sanctions China for its security crackdown in Hong Kong, as well as an executive order to hold China accountable for “oppressive actions” against the people. from the old British colony. Trump also said he had signed an order ending the United States’ preferential treatment for Hong Kong. China said it would impose retaliatory sanctions against US individuals and entities, according to press reports.
The economic calendar presents the Empire State Regional Index of the Federal Reserve Bank of New York for July at 8:30 am Eastern time. The United States Import Price Index for June is due at the same time.
The Fed plans to release industrial production and capacity utilization data for June at 9:15 am ET. Economists surveyed by MarketWatch, on average, forecast a 4.1% increase in production, while utilization is expected to rise to 67.7% from 64.8% in May.
Philadelphia Fed President Patrick Harker is slated to deliver his remarks at noon east, while the latest report from the Federal Reserve’s Beige Book, an anecdotal compilation of economic activity across the country, will be released to 2 pm
Which companies are in focus?
- Apple Inc.
GS,
+ 2.45%
The shares rose 1.5% in premarket trading after winning a court battle with the European Union in a dispute over an € 13 billion ($ 15 billion) Irish tax bill. - Dow component UnitedHealth Group Inc.
UNH
+ 2.94%
Shares rose more in pre-trade after the health care company reported a second-quarter profit that rose well above expectations, but revenue fell short as premiums and service revenue they lost - Modern
MRNA
+ 4.54%
Shares rose more than 13% before the bell after its positive announcement of the vaccine.
How do other markets operate?
In Asia, the Shanghai SHCOMP compound,
fell 1.6% to end at 3,361.30, while the CSI index 300,000300,
fell 1.3%. Nikkei 225 Index NIK from Japan,
lost 1.6%, while the Hang Seng Index in Hong Kong HSI,
He earned 3.69 points to close at 25,481.58.
In Europe, the pan-European SXXP,
The Stoxx 600 Europe Index rose 1.7%, while London’s FTSE 100 UKX,
up 1.5%.
The yield on the 10-year Treasury bond TMUBMUSD10Y,
increased 2.7 basis points to 0.638%. Yields and bond prices move in opposite directions. The ICE US Dollar Index DXY,
A measure of the currency against a basket of six major rivals, was 0.4%.
Oil futures rose, with the US benchmark CL.1,
up to around 1.3%. Gold GC00,
futures were lower.
.
