market's gains since May can be pegged to hopes for vaccines to protect against COVID-19, which has killed over 960,000 worldwide and rocked the global economy.Global efforts to develop a vaccine are coming to a head, with late-stage data on trials by companies such as Pfizer Inc and Moderna Inc possible as soon as October or November.
Disappointing results could further shake markets that have recently grown turbulent on worries over fiscal stimulus delays and uncertainty around the Nov.
3 U.S. presidential election."The anticipation is that this stuff is going to work," said Walter Todd, chief investment officer at Greenwood Capital in South Carolina.