Will Coronavirus Vaccine Optimism Drive These ETFs?

The coronavirus outbreak has crossed the grim mark of 4 million cases in the United States. The world’s largest economy has seen a staggering 1 million new cases in just 15 days in comparison to 28 days taken to gain an additional million and surpass the 3 million mark on Jul 8, per a CNN report. Also, the count of people dying from the disease looks bad at around 143,820. Looking at the rising number of cases, President Trump has called off the Jacksonville, FL, component of the Republican National Convention.

Notably, the outbreak has caused an unprecedented collapse in economic activities as governments had to shut down commerce and implement social-distancing measures in an effort to contain the spread of the virus. As a result, a lot of sectors have been seeing slowdowns due to the coronavirus outbreak. Also, the halting or rolling back of the reopening process may derail economic recovery achieved so far.

Vaccine Developers Showing Progress

In such a scenario, coronavirus vaccine progress has brought back optimism for some performance of some ETFs. Data from the ongoing Phase I/II trial of the coronavirus vaccine candidate, also known as AZD1222, which AstraZeneca (AZN) is developing in collaboration with Oxford University, was recently published in the medical journal The Lancet. The newly-released data showed “strong” antibody and immune T-cell responses in participants which lasted at least for a couple of months (per a CNBC article).

Positive update on coronavirus vaccines made by Pfizer (PFE) in collaboration with German biotech firm BioNTech was recently announced. Two out of four of the companies’ coronavirus vaccine candidates, BNT162b1 and BNT162b2, have been granted the ‘fast track’ designation by the FDA. The fast-track status will speed up the review process of Pfizer’s coronavirus vaccines. In fact, the Trump administration has entered into a deal with the company to manufacture 100 million doses of a COVID-19 vaccine in the United States, for distribution after providing emergency authorization.

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