European equity markets are almost unchanged on the day, with the German index opening at 13.130 points – Stock Maket Analysis Today: Investors remain hopeful of Covid-19 vaccine.
News that Johnson & Johnson paused its coronavirus vaccine trials after one of the participants contracted an unexplained illness weighed slightly on market sentiment.
Nevertheless, such events are expected to occur during clinical studies, especially on this scale. AstraZeneca was able to swiftly resume its own trials after a similar case last month.
Therefore, market impact should be limited and investors remain hopeful that a vaccine will be available soon given the large global effort to develop one.
In the US, investors already have set sight on the record high. Tech stocks are once again causing euphoria on Wall Street, and the focus today will be on Apple´s event, where they will present the iPhone 12.
Expectations are running high, and market participants are clearly betting on the tech rally to extend from here, giving the broader market a boost too.
Meanwhile, in Europe, the mood is slightly more subdued.
The rapid increase in COVID-19 cases and new restrictions is concerning for investors on this side of the Atlantic and EU indices are likely to continue to lag behind their US counterparts.
Stock Maket Analysis Today: Investors remain hopeful of Covid-19 vaccine