U.S. stock index futures rose on Monday as the country's top drug regulator's approval for emergency use of antibody-rich blood plasma on COVID-19 ...
REUTERS: The S&P 500 and Nasdaq were set to open at record highs on Monday after the U.S. health regulator approved the emergency use of blood plasma in COVID-19 patients and on report the Trump administration may fast-track a vaccine candidate.
The World Health Organization, however, was cautious about endorsing the treatment, citing"low quality" evidence that it works. "Everyone is focused on the same thing and that's eradicating the virus, whether it's through treatment, but preferably from vaccines," said Thomas Hayes, managing member at Great Hill Capital LLC in New York."That is the key to unlocking the economy because all the stimulus aid and liquidity is there. We just have to enable people to get back to normalcy and the global economy can boom.
The S&P 500 and Nasdaq closed at record levels on Friday, wrapping up four weeks of gains on bets that technology focused companies will emerge stronger from the pandemic and the economy will return to growth on continued monetary and fiscal support.Meanwhile, the next phase of coronavirus government aid remained elusive as top Democrats and Republicans continued to blame each other for stalled talks on the legislation.
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