Wall-Street seems to be getting their hopes up at the possibility of the world seeing a end to the pandemic as the Dow Jones has gained 337 points (or about 1.2%) after news of Russia approving a COVID vaccine came out.
The S&P 500 also has seen a rise of 0.4% in the light of the news.
So what are the inner details of the Russian COVID Vaccine News?
According to Russian President Vladimir Putin, they developed a 'safe and effective' vaccine that will as a result be ready to move to Phase 3 trials. Putin also confirmed that his own daughter was a part of the trials and according to him, was successfully inoculated. The trials for this vaccine started back in June 17th with around 76 volunteers.
Of course with this news also came skepticism and concern, there is so far no scientific data to back up Putin's claim that they have a viable vaccine. Their vaccine also still hasn't reached any phase 3 trials so many are seeing this news as being pre-mature and is not accurate to characterize the vaccine as 'ready'.
The Implications Of This News
Without going down the rabbit hole of vaccines (which is justifiably a field in my view that should be questioned as much as possible), it's good that there is a bit of skepticism regarding this vaccine. Especially when you have a product where there is a strong incentive for it to be produced and where there is a strong profit motive to release them, you want to make sure that any medical product, whether it be a vaccine, big pharma drug, etc, get's the best amount of scrutiny, cause with scrutiny comes usually a lot of measures to make sure that said product can be released and be as safe as possible.
I won't be taking any injections any time soon, but I am in no way a doctor, so it is your decision based on the information that you get to take any kind of medical advice or precautions as you wish.
With the world economy still being much of a dumpster fire at the moment, many average folks are hoping and waiting for the moment that the pandemic can end and allow for the economy to naturally recuperate, however way that moment decides to come into fruition.
A Entrepreneur post will be coming out tomorrow, for those that want to figure how they can improve their living condition without having to rely on a stimulus check, stay tuned 👌.
Articles Cited: https://moneymorning.com/2020/08/11/dow-jones-today-rips-higher-on-russia-covid-vaccine/