Speaking at a round table event, the US President Donald Trump has said that some big announcements are coming and have come out on therapeutics and vaccines for the coronavirus. Meanwhile, at the same event, White House Economic Advisor Larry Kudlow has stated that reopening is a big plus.
This all follows the news that a leading biotech company in the race for developing a coronavirus vaccine has announced initial results from first human tests were possible.
The first coronavirus vaccine to be tested in people appears to be safe and able to stimulate an immune response against the virus, its manufacturer, Moderna, announced on Monday,
– The New York Times reported in recent trade.
A phase 2 study has been granted expected to enrol an additional 600 volunteers — half older than 55 — to provide additional immunogenicity data. There are hops that in July the company will begin a Phase 3 study, aimed at showing that the vaccine can actually prevent disease.
Market implications
The health crisis that has turned into a finical crisis has led to the US economy to start to open up. However, the news of a vaccine is fuelling a bid on a desperate market seeking a break. The S&P 500 has reached a 61.8% resistance, but the question has to be how long this optimism can stand up to the damage that has already been done? Moreover, COVID-19 could well be here to stay until a vaccine is broadly administered and there are risks associated with opening economies too soon.
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