ASX to rally on vaccine hopes; Wall St jumps
Oil, iron ore prices rally
Gold is flat at US$1736 an ounce.
ASX futures up 107 points or 2% to 5591 near 6am AEST
AUD +1.7% to 65.21 US cents (year to date -7.5%)
On Wall St near 4pm: Dow +3.9% S&P 500 +3.2% Nasdaq +2.4%
In New York: BHP +8.3% Rio +8.1% Atlassian -2.3%
In Europe: Stoxx 50 +5.1% FTSE +4.3% CAC +5.2% DAX +5.7%
Spot gold -0.7% to $US1730.84 an ounce at 1.31pm New York time
Brent crude +7.8% to $US35.03 a barrel
US oil +7.9% to $US31.74 a barrel
Iron ore +3.4% to $US96.84 a tonne
Dalian iron ore +1.9% to 699 yuan
LME aluminium +2.4% to $US1496.50 a tonne
LME copper +2.6% to $US5317.50 a tonne
2-year yield: US 0.18% Australia 0.24%
5-year yield: US 0.35% Australia 0.37%
10-year yield: US 0.71% Australia 0.90% Germany -0.47%
Italy's 10-year yield dropped 19bp to 1.67%
US prices as of 1.29pm New York
MIT professor's Moderna vaccine stake tops $1.4b
Another early investor of Moderna is on the cusp of owning a stake worth at least $US1 billion ($1.5 billion) after the biotech firm reported encouraging early trial results for an experimental COVID-19 vaccine.
The value of board member Bob Langer's 3.2 per cent holding, including stock options, rose to $US934.3 million ($1.4 billion) on Monday, as the shares surged 20 per cent to a record $US80 each. Langer, a professor at the Massachusetts Institute of Technology, would be at least the third individual with Moderna holdings topping $US1 billion, joining chief executive officer Stephane Bancel and Harvard University professor Timothy Springer.
Stocks in Moderna have surged. Ricardo De Aratanha/Los Angeles Times
Moderna, whose shares have more than quadrupled this year, released interim data from a small phase 1 trial showing positive early signs that the vaccine can create an immune system response to the virus in humans. The news helped fuel a broader surge in stocks, with the S&P 500 advancing 3.2 per cent, the most since April 8.