U.S. stock indexes were set to open sharply higher on Monday on optimism fueled by encouraging data from a potential COVID-19 vaccine trial, with investors also counting on more stimulus to rescue the economy from a deep economic slump.
FILE PHOTO: Floor traders work space is seen on the trading floor after the closing bell, following traders testing positive for Coronavirus disease , at the New York Stock Exchange in New York, U.S., March 19, 2020./File Photo
Drugmaker Moderna Inc said its experimental vaccine for COVID-19 showed promising results in an early stage study. The stock jumped 26% in premarket trade. Powell also said the most important data for the U.S. economy right now are the “medical metrics” around the coronavirus pandemic and sectors such as travel and entertainment would remain under pressure.
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