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US stock market report – Moderna jumps 17% on Australian vaccine approval

US stock markets broke their positive run with the Dow Jones and S&P 500 falling 0.3% and 0.9%, respectively, as commodity markets continue to digest the impacts of the Delta variant.

Both the energy and real estate sectors were among the hardest hit as the Chinese government’s policy of seeking to eliminate COVID-19 has sent growth expectations for the economy lower following the latest Wuhan outbreak.

Gold in flash crash, UN panel releases climate change report

Gold bullion was also hit as another Federal Reserve official warned that the tapering of bond purchases lies ahead in the coming months. It hit its lowest point since March, yet little has changed on the difficult outlook for the global economy.

The UN International Panel on Climate Change also released their latest report, suggesting that it is ‘unequivocal’ that humans have had an impact on the climate and predicting that weather disruptions will continue to increase in regularity.

Moderna shares surge

The Nasdaq was the standout, adding 0.2%, as shares in Moderna (NASDAQ: MRNA) surged over 17% following the approval for use of its COVID-19 vaccine here in Australia.

Featured podcast: Healthcare vs. Biotech & the CURE ETF

US stock market movers

Here’s how other popular US shares started the week on Monday.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to open higher on Tuesday. Check out Rask Media’s daily ASX 200 morning report for all the latest.

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Disclosure: At the time of publishing, Drew owns shares in Trade Desk.

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