The stock market is rising on hope for a pharma solution to coronavirus, here’s how close we are
Markets have in recent weeks applauded the monumental efforts taken by Congress and the Federal Reserve to insulate the U.S. economy from the impact the coronavirus. But to traders across Wall Street, a vaccine, or at least an effective therapy, remains the No. 1 focus for the market to have a shot at clawing back more of the historic decline and one day reclaim a new high.
Below is an updated rundown of who is working on drugs to combat the coronavirus and how close they are. Efforts to develop a vaccine appear promising at Moderna, Johnson & Johnson and Pfizer, while Gilead Sciences drug remdesivir made headlines into the weekend on an anecdotal report of its success treating symptoms.
Though big-ticket spending and small-business loans may provide some short-term market levity, investors say the speed at which the nation’s biggest health-care companies …continued .
[Source: CNBC News]