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US Stocks Extend Last Week’s Rally on Reopening Optimism, Washington-Beijing Tensions Remain

The holiday-shortened week started on a positive note with another pharma company announcing development plans for its novel coronavirus vaccine candidate. Novavax disclosed on Monday that it had started the Phase 1 clinical study for its covid-19 candidate, NVX-CoV2373, and is expecting to release the preliminary results in July. US stocks rallied last week, as

By |2020-06-01T17:19:17+05:30June 1st, 2020|Finance|0 Comments

Markets Brush off US-China Tensions and Surge on Covid-19 Vaccine News

Last week started on a positive note with Moderna being among the latest companies to announce encouraging interim Phase 1 data for a covid-19 vaccine candidate. The company, which is partnering with the National Institutes of Health, said that its candidate, mRNA-1273, is likely to enter Phase 3 trials in June subject to earlier trial

By |2020-05-25T14:54:50+05:30May 25th, 2020|Finance|0 Comments

Powell’s Remarks Dampen Reopening Optimism

Last week started with excitement around the reopening of most economies around the world, businesses beginning to open their shutters and people getting ready to move out of their homes. But the euphoria didn’t last long. The bears began their prowl again, following downbeat remarks by the Federal Reserve Chairman Jerome Powell, pushing the markets

By |2020-05-18T18:24:18+05:30May 18th, 2020|Finance|0 Comments

Markets Shrugged Off Record Surge in US Unemployment Rate

The US Labor Department Friday reported a staggering 20.5 million job losses in the country in April, sending the unemployment skyrocketing to 14.7% amid shelter-in-place orders and factory closures to combat the COVID-19 pandemic. While the job losses and unemployment rate easily outpaced the records created post-World War II, they were better than the consensus

By |2020-05-11T15:32:49+05:30May 11th, 2020|Finance|0 Comments

What Took Oil Prices from $67 to Below Zero in Just Three Months?

Wild market swings have become the new normal amid the coronavirus outbreak. The steep decline in oil prices came as no surprise. But no one could have imagined even a few weeks back that oil prices would plummet to negative territory. Shockingly, for the first time in history, West Texas Intermediate (WTI) crude oil nosedived

By |2020-04-30T18:56:52+05:30May 6th, 2020|Finance|0 Comments

Market Recovers on Gilead’s COVID-19 Drug

Gilead Sciences, Inc. grabbed investor attention last week after the company announced positive results of its antiviral drug remdesivir in closely watched clinical trial. Investors cheered the news of a possible treatment for the deadly coronavirus infection, sending the stock market higher. The pharma giant’s drug was subsequently granted emergency use authorization by the FDA

By |2020-05-04T18:18:06+05:30May 4th, 2020|Finance|0 Comments