U.S. stock markets rebounded on the 19th, buoyed by a decline in long-term interest rates following intervention by the U.S. Treasury.
U.S. stocks rebounded. The Dow Jones Industrial Average closed up $119.65 at $53,463.05, while the Nasdaq Composite ended 41.38 points higher at 26,331.09. Markets rose after the open, supported by lower interest rates following the Treasury Department's announcement of an increase in long-term Treasury bond buybacks to provide liquidity support. Prices remained firm throughout the day, but the release of the minutes from the July Federal Open Market Committee (FOMC) meeting in the final stages of trading pointed to the necessity of further rate hikes if inflation fails to decelerate.
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Moderna’s stock price doubled as Merck & Co announced the success of Phase III trials for its mRNA cancer vaccine, marking a historic breakthrough in melanoma treatment.
Moderna and Merck & Co announced on Wednesday that their jointly developed personalized mRNA cancer vaccine achieved positive results in a large-scale Phase III clinical trial. This marks the first successful Phase III trial for mRNA technology in the field of cancer treatment and represents a major breakthrough for personalized immunotherapy in the history of oncology.
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