The major stock indexes (^DJI, ^IXIC, ^GSPC) are looking to end the first full trading week of May on a high, as are several European indexes. DAX Performance Index (^GDAXI), and CAC 40 (^FCHI).
President Biden is reportedly scheduled to release an update on Trump-era trade tariffs on China.
Novavax (NVAX) stock has soared more than 110% on news that the biotech company plans to enter into a licensing agreement with Sanofi (SNY, SAN.PA) to co-commercialize a coronavirus vaccine.
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This post was written by luke carberry morgan.
video transcript
So let me explain the three things you need to know to know your trading day roadmap.
Yahoo Finance’s Jared Madison Mills sees optimism spreading across the pond as the winning week pace allows it to further beat the major averages.
Currently in Europe, the Foot, Dax and C 40 are all hitting record highs as the UK emerges from recession and records its highest GDP growth in over two years.
And President Biden is expected to announce an update on trade tariffs on China next week.
The announcement reportedly targets specific sectors such as electric vehicles, semiconductors, and solar power equipment.
The update comes after a review of tariffs introduced under former President Trump in 2018, and will be one of Biden’s biggest decisions regarding economic relations between Washington and China.
Meanwhile, the vaccine maker announced a $1.2 billion licensing agreement that will see Santa Co. manufacture combo flu and other vaccines using the Novavax vaccine platform, in addition to commercializing Novavax’s existing coronavirus vaccine. Novavac shares soared more than 100% on the free market as the company announced the acceleration. .
As part of the transaction, Santa will acquire a minority stake in Nova.
