June 13, 2024

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Stock markets, Chinese tariffs, Novavax and Sanofi: 3 things

Stock markets, Chinese tariffs, Novavax and Sanofi: 3 things

The major stock market indices (^DJI, ^IXIC, ^GSPC) are on track to close the first full trading week of May on a high, along with several of their European counterparts: FTSE 100 (^FTSE), DAX Performance Index (^ GDAXI), and CAC 40 (^FCHI).

President Biden is reportedly set to announce updates on Trump-era trade tariffs on China.

Novavax (NVAX) shares surged more than 110% on news the biotech company plans to strike a licensing deal with Sanofi (SNY, SAN.PA) to co-market a COVID-19 vaccine.

For more expert insights and the latest market action, click here to watch this full episode of Morning Summary.

This post was written by Luke Carberry Maughan.

Video version

So let’s go through the three things you need to know for your roadmap to the trading day.

Yahoo Finance is Jared Madison Mills and I can get more The major averages are in for a winning week as we see optimism spreading across the pond.

Now in Europe, we have the FT, DAX and C 40, all hitting new highs as the UK emerges from recession recording its fastest GDP growth in over two years.

President Biden is expected to announce an update to trade tariffs with China next week.

This announcement is reportedly targeting specific sectors including electric vehicles, semiconductors and solar equipment.

The update comes after a review of the tariffs that were implemented under former President Trump in 2018, and this will be one of Biden’s biggest decisions regarding Washington’s economic relations with China.

Meanwhile, Nova shares rose again more than 100% on the free market as the vaccine maker announced a $1.2 billion licensing deal with the agreement allowing Santa to market Novavax’s existing coronavirus vaccine as well as accelerate the creation of its flu shot and other vaccines. Using the Novavax vaccine platform. .

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As part of the deal, Santa will take a minority stake in Nova.