Stocks Climb on AstraZeneca Vaccine Results

Steve Goldstein

Stocks rose on enthusiasm that vaccines will soon end the damage to the economy caused by the coronavirus pandemic. Separately, The Wall Street Journal and other news outlets reported that President-elect Joe Biden plans to name former Federal Reserve Chair Janet Yellen as Treasury Secretary. The rate is slightly lower than the roughly 95% effectiveness achieved by vaccines from drugmaker (PFE) and biotech Moderna, but the AstraZeneca vaccine requires only standard refrigeration and will be discounted for low-income countries.