On top of the Fed’s “risk-on” feel, Moderna (MRNA) announced hopeful data in a search for a Vaccine. According to CNBC: “Moderna shares rallied more than 26% after the company reported “positive” phase one results for a potential coronavirus vaccine. The company said that after two doses all 45 trial participants had developed coronavirus antibodies.”
That would be pretty incredible news and is helping the S&P 500 (SPX) test the upside of the “frustration phase” in just one day. It will be interesting to see if the Small Cap stocks and economically sensitive sectors can outperform throughout the day today.
More as the day progresses…
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