Moderna's Vaccine - 94.5% effective, Boost Markets
Moderna claims that their vaccine is 94.5% effective against coronavirus. This is the second vaccine with very positive results. In addition, unlike Pfizer it does not need to be kept at extremely low temperature making it much easier to distribute. Markets have reacted accordingly and moved up to include travel related stocks were bumped up as well, such as airlines and casino stocks.
Earnings ultimately drive the market, and will have to do their part to keep moving up. The average S&P price-to-earnings ratio is 21.8, approximately a 40% premium to the 10-year average, according to research firm Briefing.com.
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