ASX set to soar on virus breakthrough; S&P, Dow surge

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Summary

  • ASX futures are up 2.1% and point to huge gains on the back of encouraging coronavirus vaccine news
  • Pfizer says early data for its experimental COVID-19 vaccine suggests the shots may be 90% effective¬†
  • The S&P 500 rose 1.2% overnight and closed just shy of a record, while the Dow jumped 3%. The tech-heavy Nasdaq slipped 1.5%¬†
  • Gold dropped 4.4% to below $US1900 an ounce, Brent crude jumped 7.5% and US oil 8.4%, while Iron ore rose 0.7% to $US117.80 per tonne

Latest updates

Good morning

Good morning! And welcome to what looks like being a huge day for investors.

Global markets are surging on positive news about a potential oronavirus vaccine from Pfizer.

Alex Druce and Lucy Battersby will guide you through today’s ups and downs.

This blog is not intended as financial advice

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Source: Thanks smh.com