The S&P Index climbed 34 points — or around 1.1% — “putting the coronavirus-beaten index flat for what has shaped to be a tumultuous year since the viral outbreak took hold in the U.S.,” according to MarketWatch.
“The market has been gaining traction since the depth of the crisis but took a step higher after Moderna Inc. MRNA, 9.83% offered more details about its success with a vaccine candidate for COVID-19.”
On Tuesday, the first COVID-19 vaccine tested in the U.S. “revved up people’s immune systems” just as scientists had hoped, according to the Associated Press.
But the novel coronavirus vaccine — which is being developed by the National Institutes of Health and Moderna Inc. — has a major upcoming test on July 27. A 30,000-person study will look “to prove if the shots really are strong enough to protect against the coronavirus,” according to the Associated Press.
Still, news of a vaccine appears to be helping.
“No matter how you slice this, this is good news,” Dr. Anthony Fauci, the U.S. government’s top infectious disease expert, told The Associated Press.