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 ...
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 patients lifted treatment hopes and spurred bets of a quicker economic recovery.
The U.S. Food and Drug Administration's move to use plasma from recovered patients was hailed by President Donald Trump and came a day after he accused it of impeding the rollout of treatments for political reasons.Further aiding market sentiment, was a report that the Trump administration is considering fast-tracking an experimental COVID-19 vaccine being developed by AstraZeneca Plc and Oxford University for use in the United States before election.
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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