Stock futures rise on hopes of coronavirus vaccine


US equity futures are trading higher ahead of Wednesday’s session on Wall Street following promising news about an experimental coronavirus vaccine.

The major futures indices suggest a gain of 0.8 percent.

GET FOX BUSINESS ON THE MOVE BY CLICKING HERE

The news encouraged investors that an experimental COVID-19 vaccine in development by Moderna and the US National Institutes of Health boosted people’s immune systems just as they wanted.

In Europe, London’s FTSE is gaining 0.8 percent, Germany’s DAX added 0.9 percent, and France’s CAC rose 0.9 percent.

On Wednesday in Asian markets, the Tokyo Nikkei rose 1.6 percent, Hong Kong’s Hang Seng lost 0.2 percent and China’s Shanghai Composite fell 1.6 percent.

MODERN STOCK SOARS FOLLOWING POSITIVE RESULTS IN CORONAVIRUS VACCINE CANDIDATE

The Bank of Japan maintained its ultra easy monetary stance unchanged at the conclusion of a policy meeting. He predicted that the economy would improve later in the year, assuming there is no major “second wave” of outbreaks of the new coronavirus.

The news about the vaccine came after the end of commercialization for the U.S. markets, where after another day of unsolved trading, the S&P 500 was up 1.3 percent, the Dow Jones Industrial Average added a 2 , 1 percent and the Nasdaq compound gained 0.9 percent.

Heart Security Latest Change Change%
Me: DJI DOW JONES AVERAGES 26642.59 +556.79 + 2.13%
SP500 S&P 500 3197.52 +42.30 + 1.34%
I: COMP NASDAQ COMPOSITE INDEX 10488.577408 +97.73 + 0.94%

The earnings reporting season began with three of the nation’s largest banks painting a mixed picture of just how serious the coronavirus pandemic is that is sweeping their businesses.

Like the overall market, financial stocks fluctuated between profit and loss for much of the day before rising higher in the afternoon. JPMorgan Chase, Wells Fargo and Citigroup said they collectively set aside about $ 27 billion during the second quarter to cover loans that could be in bad shape due to the recession.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

Benchmark US crude oil rose 43 cents to $ 40.70 a barrel in e-commerce on the New York Mercantile Exchange. He earned 19 cents to settle at $ 40.29 a barrel on Tuesday. Brent oil, the international standard, gained 41 cents at $ 43.31 per barrel. It rose 18 cents to $ 42.90 a barrel in London.

Associated Press contributed to this article.