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Why Jim Cramer Remains Cautious as Vaccine Optimism Fuels Market Rally

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Moderna  (MRNA) - Get Moderna, Inc. Report says that its vaccine candidate, according to data, has a 94.5% efficacy. 

Moderna's candidate topped the 90% efficacy reported by Pfizer's vaccine candidate last week, and noted that it can last for up to six months when stored at standard freezer temperatures of -4 degrees Fahrenheit, compared to the -94 degree temperatures required for the Pfizer vaccine. 

The company also said it expects to apply for Emergency Use Authorization with the U.S. Food and Drug Administration within the coming weeks, while the European Medicines Agency's human medicines committee launched a 'rolling review' of the vaccine Monday.

Modena noted that it could have 20 million doses available for the U.S. market this year, as well as a total supply of between 500 million and 1 billion doses worldwide next year.

So, what's driving the markets other than Moderna's news? Jim Cramer breaks it down.

WATCH: Everything Jim Cramer Is Watching in the Markets Monday

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