The main U.S. indices showed an upward trend in the trading session on Monday, November 16, due to news from the biotechnology company Moderna Inc (MRNA) that excellent results were obtained during the third phase of its coronavirus vaccine research.
Studies involving more than 30 thousand individuals showed the vaccine’s efficacy at 94.5 percent, according to the firm. The results so far surpass the efficacy of the coronavirus vaccine developed jointly by the American company Pfizer Inc (PFE) and the German company BioNTech SE (BNTX).
The secondary macro economic data of NY Empire State manufacturing activity index, dropped to 6.3 points in November from 10.5 points a month earlier, while analysts expected 13.5 points.
The broad-market Standard & Poor’s 500 index had advanced 1.17 percent to 3,626 points. The Dow Jones Industrial Average was up 1.60 percent with 33 points, at 29,950 points. The NASDAQ Composite index of high-tech industries was up 37 points or 0.8 percent, at 11,924 points.
Light crude futures were up 3 percent at $41.34. The price of gold has risen by 0.08% and is at $1887.80 per troy ounce. Meanwhile, the EUR/USD currency pair is 0.17 percent in the black and is at 1.185.
The stocks of airlines, cruise operators, as well as members of the entertainment industry, are up trending in anticipation of the latest vaccine and were among the favorite stocks in the trading on Monday. In particular, Carnival, Royal Caribbean, American Airlines Group and Delta Air Lines’ market capitalization grew by 9.74 percent, 6.93 percent, 4.49 percent and 4.22 percent.
Meanwhile, at close of the session, Moderna’s shares themselves gained 9.58 percent, while Pfizer’s stock retreated by 3.34 percent.
For meat producer Tyson Foods (TSN), which added 3.83 percent to its stock thanks to positive reporting for the past quarter, the session shaped up well. Compared to $10.88 billion a year ago, the company’s revenues totaled $11.46 billion, and net revenue in the quarter soared 88 percent to $692 million, or $1.90 per share. Adjusted earnings were at $1.95 per share at the same time, far above the average $1.19 per share estimate.