The stock futures moved higher on Monday morning as investors took note of the positive developments surrounding the coronavirus vaccine candidate and disrupted the newly announced mergers and acquisitions in large companies.
AstraZeneca (AZN) announced over the weekend that it had resumed its end-phase Covid-19 vaccine tests with Oxford University, with the company temporarily suspending trials a week ago after safety concerns over a suspicious reaction by a participant. Shares rose about 0.5% in early trading.
Elsewhere, shares of Oracle (ORCL) rose 9% in early trade, following reports from multiple news outlets that the tech company was trading higher in the US. Partnership with Business Ownership (US Business Unit), which was exited out of MicroSF (MSFT), formerly considered a front-runner. Will be considered low.
“Global markets will take an optimistic move over the week, with M&A activity and vaccine growth helping to boost momentum after the recent downturn,” senior market analyst Josh Mahoney wrote in an email on Monday.
The development between Oracle and Ticket Ok “helps ease the friction between the US and China, although there will be questions about how much data is available for the main entity,” he added. “On the vaccine front, complications with one participant following the news that the AstraZeneca vaccine trial is about to resume are gaining momentum following fears that it may represent a significant impediment to development. With Trump telling states to expect vaccines before the election, there is a feeling that we are right at home under pressure for effective treatment. ”
Other large corporations also announced large-scale new deals over the weekend. Chipmaker Nvidia (NVDA) has announced it will buy Softbank Group’s chip unit Arm Ltd for $ 40 billion, the largest ever in the semiconductor industry. Elsewhere, Gilead Sciences (GILD) agreed to buy Immunomidics (IMMU) in a nearly 21 21 billion deal, later adding tumor-fighting drugs to the pharmaceutical giant’s portfolio. Shares of Gilead fell 1% in early trading, while shares of Immunomidix more than doubled.
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Monday 7:19 and Monday: Stock futures rise with focus on vaccine, M&A growth
Markets had a major move here, from 7:19 a.m. ET:
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S&P 500 Futures (ES = f): 3,3374.00, up 40.25 points or 1.21%
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Dow futures (YM = f): 27,850.00, up 238.00 points or 0.86%
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Nasdaq futures (NQ = f): 11,241.5, up 180.00 points or 1.63%
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Crude (CL = f): – 1 0.11 (-0.29%) to 37.22 a barrel
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Gold (GC = f): + $ 4.00 (+ 0.21%) to $ 1,951.90 per ns
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10-year Treasury (TNX): +0.7 bp. Will receive 0.674%
A trader working on the floor of the New York Stock Exchange (NYSE) on October 10, 2018, U.S. No. is reflected on a monitor in Manhattan, New York. Reuters / Brendan McDermide
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