• US stocks decline as COVID-19 shutdown concerns persist

    5 days ago - By Business Insider

    Paul Hennessy/NurPhoto via Getty Images
    US stocks fell on Thursday as concerns about another round of COVID-19-related lockdowns was heightened after the New Yor City school system transitioned to remote learning. A rise in daily COVID-19 cases led to an infection rate of more than 3% in New York City, which spurred Mayor Bill DeBlasio to shut down physical learning at schools on Wednesday. On the economic data front, 742,000 more Americans filed for unemployment last week, more than experts had forecast. Watch major indexes update live here. US stocks declined on Thursday as investor...
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  • Bet on bank stocks now before a virus vaccine and easier lending lifts the sector in 2021, Jefferies says

    5 days ago - By Business Insider

    People walk past a Citibank branch of Citigroup in New York. Profit plummeted at the bank because of COVID-19 pandemic.
    Ron Adar/SOPA Images/LightRocket/Getty Images
    Jefferies raised its rating on financial stocks to "bullish" from "modestly bullish" on Wednesday, citing loosened lending conditions and new hopes for a near-term vaccine. Bank stocks are among the most sensitive to macroeconomic trends, and the latest COVID-19 surge "is likely to lead to some weaker economic data and potentially higher impairment charges," the team led by Sean Darby said in a note. Yet the firm's October...
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  • AstraZeneca gains after its COVID-19 vaccine produced immune response in elderly, Oxford study shows

    6 days ago - By Business Insider

    Steve Parsons-WPA Pool/Getty Images
    AstraZeneca's COVID-19 vaccine demonstrated a strong immune response in elderly patients, according to a study from the University of Oxford. Data from the Phase II vaccine trial was published in the Lancet medical journal on Thursday. "This is a very important step, because the big worry with any vaccine is that it doesn't work so well in older people," the Lancet's editor in chief told Bloomberg. Visit Business Insider's homepage for more stories. Another batch of encouraging data on the COVID-19 vaccine front was released on Thursday, this time from...
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  • Oxford's COVID-19 vaccine is safe and produces an immune response in older adults, encouraging early trial results suggest

    6 days ago - By Business Insider

    Kate Bingham, Chair of the Government's Vaccine Taskforce, after starting her Novavax trial at the Royal Free Hospital, north London on October 13, 2020.
    Kirsty O'Connor/PA Images via Getty Images
    Early trial results published in The Lancet suggest The University of Oxford and AstraZeneca's COVID-19 vaccine produces an immune response and is safe in older adults.
    This is important because older adults are more likely to develop severe cases of the virus, and some vaccines aren't as effective on them.
    Older people who took part in the Oxford COVID-19 vaccine trial were less likely to have...
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  • Global stocks sag, as spread of COVID-19 across the US and Europe douses vaccine optimism

    6 days ago - By Business Insider

    Joanne Millar, store manger of Joules in Belfast, places a sign in the shop window about compulsory face masks.
    Liam McBurney/PA Images via Getty Images
    Global shares have tumbled, as the spread of COVID-19 threatens economic recovery and offsets optimism over the rollout of a vaccine.
    Oil futures dropped after data shows a steep decline in US energy use in the latest week, as lockdowns and restrictions on movement came into force.
    Government bond yields marched lower, reflecting some of the rising anxiety among investors, along with a spike in a measure of European market...
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