looks like back to normality soon19 May 2020 09:15
On Monday, US biotech firm Moderna reported "positive interim" results in early testing of a vaccine candidate, with some experts suggesting that if all goes well it could be in use by the end of the year.
In addition, investors were optimistic over a gradual return to some semblance of normal in key markets, with major tourist attractions in Italy and Greece reopening, top-tier football back in Germany and the "Big Three" Detroit automakers, General Motors, Ford and Fiat Chrysler resuming manufacturing.
"Optimism around economies reopening and a coronavirus vaccine is driving higher equities, oil prices, and weaker USD. The incomprehensible stimulus support means positive news triggers an asymmetric positive response in markets compared to a sell-off in risk via negative news. This dynamic is becoming more entrenched in market sentiment as Western Europe and the US loosen mobility restrictions," AxiCorp's Stephen Innes said.