The global push to develop coronavirus vaccines is accelerating, with companies in China, Europe and the U.S. reporting positive developments in trials of their shots. A Moderna Inc. vaccine candidate produced antibodies in all participants in a study, and early tests of experimental shots from Pfizer Inc. and BioNtech SE, as well as a partnership of […]

By Olivia Rockeman (Bloomberg) — U.S. industrial production in June posted the largest monthly gain since 1959, indicating manufacturing is stirring to life after coronavirus-related shutdowns. Total output at factories, mines and utilities increased 5.4% from the prior month after climbing 1.4% in May, Federal Reserve data showed Wednesday. The median projection in a Bloomberg survey of economists […]

Wharton finance professor Jeremy Siegel expects a game changer. He predicts a coronavirus vaccine is closer than the market thinks. “We’ve had almost no setbacks in the schedule developing the vaccine, and I think that’s where upside surprises can occur,” Siegel told CNBC’s “Trading Nation” on Tuesday. “We may find ourselves with a workable vaccine […]

Moderna’s shares soared after the company said its potential vaccine to prevent Covid-19 produced a “robust” immune response in all 45 patients in its early stage human trial, according to newly released data published Tuesday evening in the peer-reviewed New England Journal of Medicine.

By Debby Wu The Apple chipmaker’s revenue comes in just above estimates World’s top contract chipmaker is ramping up production now (Bloomberg) — Taiwan Semiconductor Manufacturing Co. posted monthly revenue that suggested June-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the pandemic and U.S. curbs on No. 2 customer Huawei Technologies […]

Gilead Sciences announced new findings Friday that its antiviral drug remdesivir reduced the risk of death for severely sick coronavirus patients by 62% compared with standard care alone, saying more research is needed. The company said its analysis also found that remdesivir treatment was associated with “significantly improved clinical recovery.” The findings are being presented at […]

By Nico Grant (Bloomberg) — Global personal computer shipments climbed in the second quarter, when vendors patched supply-chain issues and consumer demand for laptops surged with more people forced to work from home. PC makers shipped 2.8% more devices in the three-month period compared with a year earlier, for a total of 64.8 million units, according […]

By Cecile Gutscher and Justina Lee Tech stocks are rallying to new highs, pulling up the S&P 500 But airlines and retailers have crumbled in the past month (Bloomberg) — Scratch the surface of the latest stock rally, and investors remain steadfast in their conviction that real life isn’t returning anytime soon. The best companies over the past […]

By Reade Pickert Continuing claims also decline while remaining elevated California, Florida among states with drops in initial claims (Bloomberg) — Applications for unemployment benefits in the U.S. declined last week by more than projected, easing concerns of a renewed downturn in the labor market after several large states reported a pickup in coronavirus cases. Initial jobless […]

By Lu Wang Relative valuation, fund positioning bode well for stocks Strategist says investors are mispricing virus, election risks (Bloomberg) — The earnings season will kick off this month and may be the worst since the global financial crisis. Time to sell stocks? Not yet, according to JPMorgan Chase & Co.’s Marko Kolanovic. While profit expectations have […]