US stocks surge as Fauci promises widescale vaccine rollout by April
US stocks surged this afternoon as America’s top infectious disease expert suggested the country’s general population will likely start being vaccinated against coronavirus in the Spring.
Speaking in a US press call, Dr. Anthony Fauci said the “general population without underlying health conditions” would start receiving Covid vaccines in April.
Fauci’s comments boosted gains across Wall Street, coming hot on the heels of US biotech firm Moderna’s announcement this morning that its coronavirus vaccine proved 95 per cent effective in phase three trials.
The S&P 500 climbed to a record high, with cruise operators Carnival, Royal Caribbean Cruises and Norwegian Cruise Line each jumping more than 6.5 per cent on hopes of a return to service.
Oil giant Chevron dominated the Dow Jones Industrial Average, rising 5.2 per cent to a monthly high of $87.37., while US airline Boeing jumped more than five per cent to $194.64.
Moderna’s announcement this morning came as a welcome addition to the global race for a vaccine after rival firms Pfizer and Biontech last week said their experimental drug saw a 90 per cent success rate in late-stage trials.
Fauci today said: “The vaccines are effective … We want to get doses to people starting in December, and then we want to really get the ball rolling as we get into January, February and March.”
The US medical chief yesterday said the US could see “things back to relative normal as we get into the second and third quarter of [next] year, where people can start thinking about doing things that were too dangerous just months ago”.
The country has so far recorded more than 11.1m confirmed cases of coronavirus and upwards of 246,000 Covid-related fatalities — the highest virus death toll in the world.
The White House has said 20m doses of the Pfizer vaccine could be ready for distribution to vulnerable populations by the end of December, as the nation scrambles to contain a spike in infections.