MRNA Stock News: Moderna set to rise on Trump's vaccine push, rivals' issues

NASDAQ: MRNA has defied markets and advanced by nearly 3% on Wednesday.
Moderna Inc. is set to extend gains as President Trump insists a vaccine will be ready shortly.
AstraZeneca's temporary vaccine halt and Pfizer's enlargement of its trial put Moderna in a pole position.

Yohay Elam FXStreet

Why is NASDAQ: MRNA moving higher? The main focus for investors has been the firm's advanced efforts to develop a COVID-19 vaccine. Moderna is busy running a final Phase 3 trial involving tens of thousands of people.

President Donald Trump has been pushing strongly for immunization to arrive in the US before the elections on November 3. He would like to paint a victorious picture, countering his mishandling of the virus so far 0 especially as America's death toll is nearing 200,000. Contrary to statements by Robert Redfield, head of the Center for Diseae Control, and Anthony Fauci, America's leading epidemiologist, he stated a vaccine is coming soon.

The president's words imply any pharmaceutical firm that announces positive results would receive emergency approval – and perhaps government funds to ramp up manufacturing.

Moderna is not alone in the race to register a full solution for the coronavirus pandemic. Pharma behemoth Pfizer is also conducting a Phase 3 trial in collaboration with Germany's BioNtech. That project asked to enlarge the number of participants from 30,000 to 44,000 without any clear explanations. Even if this move makes sense, it will likely slow Pfizer's attempt to reach a vaccine.

Another leading project comes from Britain's AstraZeneca. The project that involves the University of Oxford suffered a one-week pause after a participant fell ill. The trial later resumed, but the delay 0 and potentially others down the road – may put it behind.

All in all, Moderna is moving forward, and the mix of issues at the competition and a push from Uncle Sam put it in a pole position to win the race.

MRNA Stock Price

When a stock rises when the market falls – it is showing strength. That is what Moderna is experiencing, and for good reasons. The Massachusets-based pharma firm's stock rose by nearly $2 or 2.93% on Wednesday, closing at $48.84. It is changing hands at just above $70 in Thursday's pre-market trading.

Previously about the firm:

MRNA Stock Price: Moderna hits record high amid coronavirus vaccine progress, new test underway

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

AUD/USD keeps range near mid-0.7100s as USD bulls await US CPI

AUD/USD steadies near mid-0.7100s in the Asian session on Friday, stalling the previous day's sharp decline to an over one-week low. The August PPI report reaffirmed Fed rate-hike bets and boosted the US Dollar on Thursday, which weighed heavily on the pair. However, hawkish RBA expectations limited losses for the Aussie as USD bulls now await the release of the US consumer inflation figures before placing fresh bets.

USD/JPY holds lower ground toward 154.00; looks to US CPI

USD/JPY holds lower ground toward 154.00 in the Asian session on Friday after hot Japanese PPI data bolster a more hawkish BoJ repricing and provide fresh impetus to the Japanese Yen. However, the downside appears capped as the US Dollar preserves overnight gains ahead of the latest US consumer inflation data.

Gold: Gains remain capped by $4,400

Gold regains composure and trades with decent gains on Friday, managing to refocus attention on the $4,440 mark per ounce troy. Therefore, the precious metal reverses Thursday’s decline as the US Dollar alternates gains with losses at the end of the week.

Ripple Price Forecast: XRP extends decline as returning ETF inflows fail to lift outlook

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.

Weekly focus – The hawks set the tone

Risky assets came under pressure this week as energy prices kept creeping higher and the ECB surprised the markets with a hawkish tone. The price of Brent crude touched USD 110 per barrel on Thursday night, highest since mid-May, as news emerged that the Yemeni Houthis had reached control of key port cities and islands near the Bab el-Mandeb strait.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.