U.S. stocks on track to open higher on COVID-19 vaccine hopes

14.09.2020 - Evdokimov Roman
U.S. stocks on track to open higher on COVID-19 vaccine hopes

U.S. stocks are on track to open higher after the pharma sector reassured progress for a COVID-19 treatment.

Dow Jones futures gained 0.8% (218 points) at 06:30 AM ET (10:30 GMT), while S&P 500 and Nasdaq futures gained 1.1% and 1.4% respectively.

However, there has been criticism on biotech firm Gilead Sciences Inc after it decided to pay $21 billion for its experimental drug Immunomedics, which still lacks FDA approval.

On the tech front, Oracle took the lead in the race to partner up with U.S. operations of video-streaming service TikTok. However, it has yet to be disclosed whether the deal will be acceptable to regulators in China and the U.S.

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