Stocks rose in the US overnight on the release of a new study by Moderna Inc [NASDAQ:MRNA] showing progress in the search for a vaccine against the ‘rona.
Its share price is now back where it was in May, when it previously released positive news about a potential vaccine.
The main US indices all rose between 0.6% and 0.9%.
Notably, the NASDAQ lagged the Dow and the S&P 500 for the third day in a row.
This bears watching after Monday’s large reversal. On that day, the tech index surged initially, before selling off late in the day and finishing down heavily.
Such reversals are rare. They often lead to heavier sell-offs down the track.
Given the NASDAQ has been the leader in this bull market, it’s a development that bears watching.
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A potential gold mine…
Meanwhile, the market is looking for the next thing to be bullish about. And that’s a vaccine. From Reuters…
‘The leading US expert on infectious diseases, Dr. Anthony Fauci, predicted the country will meet its goal of a coronavirus vaccine by year’s end and was unmoved by the prospect that China would get there first.
‘While there are no guarantees, “I feel good about the projected timetable,” Fauci told Reuters in an interview on Thursday AEST.
‘His comments follow promising early stage data for the Moderna’s coronavirus vaccine, released a day earlier, that was developed by scientists at the National Institute of Allergy and Infectious Diseases, which Fauci directs.’
Cool. Fauci ‘feels good’ about the near-term prospects of a vaccine. I guess that is as good a reason as any to buy. It’s a bit like Elon Musk feeling good about the prospect of Tesla sales…
Look, Fauci is just a salesman for Big Pharma.
This virus vaccine is a potential gold mine for them.
Which is why they’ve done their best to shut down and ignore the evidence that there is already an effective treatment for the virus in the hydroxychloroquine (HCQ).
The problem is that President Trump mentioned it back in March. Trump Derangement Syndrome (TDS) sufferers around the world lost the plot, and Big Pharma egged them on.
As the Wall Street Journal reports today:
‘But since every Trump action prompts a reaction, his political and media opponents launched a campaign to discredit the drug. This politicized environment has produced dubious science and erratic policy.’
That people’s health and livelihoods are being so politicised just goes to show how much of an illness TDS really is.
It also goes to show the power of Big Pharma, with their hold over the medical establishment.
Rebecca Weisser, writing for The Spectator Australia, has been on this story from the start. She initially reported on French Professor Didier Raoult’s use of HCQ back in March.
Fear is the precursor to ever greater government regulation
In a subsequent article, she wrote:
‘On March 29, Raoult tweeted that since March 3, his hospital had treated over a thousand Covid-19 patients with a generic anti-malaria drug and an antibiotic and only one person had died. Over that period, 2,602 people died of the virus in France out of more than 44,000 cases. That suggests if Raoult’s treatment had been adopted, as few as 44 people might have died.
‘With that sort of success you’d thinkRaoult would be a national hero…[but]… in Paris, Roualt is despised by the medical establishment.
‘His detractors claim that he is only treating mild cases that would have gone away on their own. But a study published this week shows that of 80 patients studied, 60 per cent had at least one risk factor for severe Covid-19, such as hypertension (13), diabetes (9), chronic respiratory disease (8), cancer (5), coronary artery disease (6), immunosuppressive treatment (4), around 53 per cent had pneumonia and almost 30 per cent were over 60-years old. Yet only one 86-year-old passed away. Even better, more than 80 per cent were discharged within ten days as they were no longer contagious, with a mean length of stay of 4.6 days.’
But on 15 June, the FDA rescinded the emergency use authorisation of HCQ that it approved on 28 March. In doing so, it cited studies that have since proven to be false, or highly suspect.
Despite growing evidence that HCQ works, its treatment is still politicised.
Which is just the way Big Pharma likes it. As I said, a vaccine is worth big money. Their ‘total addressable market’ is all of humanity.
Whether we get a vaccine is anyone’s guess.
If we do, it will open up a whole other debate about whether you should get the injection.
Will government’s make you get it? Can they make you get it?
Will you be allowed to travel without one?
Will you be able to go to large sporting events without one?
In other words, will those that refuse (I’ll be in that boat) be a social pariah?
It’s looking that way.
It’s just another way to keep the people divided and in fear.
As we know, fear is the precursor to ever greater government regulation and state control.
And we’re sleep walking into it…
Editor, The Rum Rebellion