. . World News – AU – Vaccine News Hits Tech, Bonds as U. s. Rising Futures: Rising Markets

More positive news about the Covid-19 vaccine gave a jolt to you. s. Stock futures, sending stocks linked to the reopening of the economy higher, erasing a rally in tech firms as investors held their money during the close.

S&P 500 contracts jumped alongside those on the Russell 2000 Index after Moderna Inc. A vaccine has been shown to be 94. 5% effective in the preliminary analysis of a large late-stage clinical trial. Shares are up more than 10% in the pre-market phase. Contracts are lower on the high-tech Nasdaq 100 Index, while Treasuries tumbled.

The vaccine news adds another impetus to global stocks after optimism last week spurred a rotation in the value and cycle sectors, and an exit from the more defensive industries. Yo. s. Share futures rose earlier after advisers to President-elect Joe Biden said they opposed a nationwide lockdown despite a spike in virus cases..

« We’re seeing positive news flow in the future, » Sage Capital Pty’s chief investment officer, Sydney, said on Bloomberg TV.. . “The market is looking to eventually reopen, real returns are likely to be lowest, cyclical stocks and value are doing better, and I think this momentum will be carried out at least over the next three to six months if not longer..

Nevertheless, concerns about a sustainable economic recovery remain amid soaring virus cases around the world. The epidemic continues to escalate in regions such as Europe and the United States. s. Coronavirus cases in the United States have exceeded 11 million. Germany’s economy minister said Germany must live with « significant restrictions » against the spread of Covid-19 for at least the next four to five months..

Elsewhere, Asian stocks jumped after a large number of countries signed on Sunday the world’s largest regional free trade agreement, comprising nearly a third of the world’s population and gross domestic product.. Meanwhile, the Australian exchange was hit by a software problem that forced it to close for most of Monday’s session. Oil pushed up.

Stock, Moderna, Vaccine, S&P 500 Index, Bond