MARKET OPEN: Promising vaccine trial, better data may lift the mood

Thu, 02 Jul 2020

Optimism over a potential vaccine for covid-19 may spill over to the local market today after Wall Street was cheered by the news. Investor sentiment got a lift when Pfizer and German biotech firm BioNTech announced its vaccine was showing promise in a clinical trial of 45 people. The companies plan to stage a larger trial of 30,000 within weeks, provided they receive regulatory approval. That coupled with improving manufacturing data saw the Nasdaq up 1.0 percent at 8am in Wellington, the S&P 500 up 0.5 percent, while the Dow Jones Ind...

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