Stocks were inching higher Wednesday, July 15 as Moderna released more data on its prospective vaccine candidate.
The U.S. has over 3.4 million cases, and 136,000 deaths.
And, on Tuesday, the U.S. reported 67,417 new cases of the coronavirus, a single-day record.
The vaccine, under development by Moderna and the U.S. National Institutes of Health, produced antibodies in all patients tested in an initial safety trial. The data was published Tuesday evening in the peer-reviewed New England Journal of Medicine.
Scientists will begin a 30,000-person study July 27 to determine the vaccine's effectiveness against the coronavirus, which has infected more than 13.3 million people across the globe and killed nearly 580,000.
“This is really quite good news,” Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, told The Wall Street Journal in an interview.
“The gold standard of protection against a viral infection is neutralizing antibodies,” he added. “And the data from the study, small numbers as it may be, are pretty clear that this vaccine is capable of inducing quite good [levels] of neutralizing antibodies.”
And then AstraZeneca rose after a report said a medical journal would be releasing positive news regarding the coronavirus vaccine the biopharma giant has been developing with the University of Oxford.
And, finally, Goldman Sachs posted better-than-expected second-quarter earnings as it followed Wall Street rivals with a surge in trading revenue linked to market volatility during the peak of the coronavirus pandemic.
So, what’s on Jim Cramer’s mind? Cramer says investors have to decide whether to own stocks that will perform once there's a vaccine because there's still major risk involved.
Watch the video above for more.