Global stock markets get a shot in the arm from hopes for a coronavirus vaccine on Wednesday, with the outlook for more US financial stimulus adding to the brighter mood.
Optimism was sparked by US biotech firm Moderna saying the final stage of human trials for a COVID-19 vaccine would start at the end of the month, after a report said first stage tests had been a success.
The news follows an announcement from Pfizer and BioNTech that two of four candidates for treatment had received “Fast Track” designation from US officials.
European markets were as much as two percent higher at the close, outperforming the Dow on Wall Street which had retreated from opening gains by the late New York morning.
Providing added support were signs that the US might add to its stimulus after reports said top Republicans were reconsidering their opposition to it.
Trillions of dollars pledged by the US and other governments and central banks around the world have been a key driver of the rally in stock markets from their March lows — but one that is weighing on the US currency.
Strong US industrial output numbers released shortly before the New York opening bell added to the better mood on trading floors.
— AFP
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Wednesday, July 15, 2020
Add ToI as a Preferred Source on Google
