From MarketWatch’s “Vaccine hopes and M&A action power European stocks and U.S. equity futures” posted early Monday:
European stocks marched higher on Monday, alongside U.S. equity futures, driven by vaccine hopes, mergers and acquisitions news…
Investors will hear from the Federal Reserve, the Bank of England and the Bank of Japan in the coming days in a busy week for central bank meetings.
Wall Street was also pointing to a stronger start, with Nasdaq-100 futures surging 200 points, or 1.2%, while S&P 500 futures rallied 37.47 points, or 1.4%, and Dow Jones Industrial Average futures jumped 340 points, or 1.3%…
Renewed hopes over a coronavirus vaccine also helped improved sentiment at the beginning of the week.
Pfizer Inc.’s (PFE) chief executive officer Albert Bourla said in an interview Sunday (link)that the drug maker should know if its COVID-19 vaccine candidate will work by the end of October — and if approved, it could be distributed in the U.S. by the end of the year. Pfizer is partnering with German drug maker BioNTech (BNTX) on the vaccine’s development.
My take: Hope for an effective vaccine, don’t count on one.