Stock futures are in surge mode this morning on positive vaccine news from Moderna, adding to yesterday’s gains. The New England Journal of Medicine published phase one trial results for Moderna’s vaccine mRNA-1237. According to the study, Moderna’s vaccine produced neutralizing antibodies in all 45 test subjects.
Along with positive vaccine news, better than expected earnings were reported by Goldman Sachs adding fuel to the hope filled rally in premarket trading. Travel stocks are up, oil is also up. All despite a reported record 67,400 single day spike in new U.S. coronavirus cases.
Our trade highlight for today is Walmart (WMT). Walmart will be expanding its influence in India via the country’s # 1 e-commerce company, Flipkart. When Walmart began investing in Flipkart two years ago, the company was worth about $21 billion. Raising it’s valuation by 20% over the past two years to approximately $24.9 billion.
Flipkart says it plans to use the funds for the “development of its e-commerce marketplace as India emerges from the COVID-19 crisis.”
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