Stock markets are rallying on news that a second coronavirus vaccine shows promise.
Pharmaceutical company Moderna said Monday that its vaccine appears to be 94.5% effective, according to preliminary data. Markets jumped, as they did earlier this month when Pfizer and BioNTech reported a similar effectiveness rate for their vaccine.
U.S. futures are up, indicating that the S&P 500 will add to its record high from Friday.
European and Asian stocks had already been trading higher after 15 countries in Asia signed a trade agreement. The United States, the world’s No. 1 economy, is not a part of it.
