Dow Futures Sent Soaring on New Vaccine Update

Positive vaccine news is boosting investor sentiment once again, after Moderna (MRNA) said its COVID-19 vaccine candidate is more than 94% effective. The company said it would apply for emergency use authorization from the Food and Drug Administration (FDA) in the coming weeks, and that it will have approximately 20 million doses ready to ship in the U.S. by the end of the year.

As a result, Dow Jones Industrial Average (DJI) futures are up 450 points -- just shy of another record -- while S&P 500 Index (SPX) futures are looking to open with significant gains as well. On the other hand, futures on the Nasdaq-100 Index (NDX) are staring at marginal losses, as airline and cruise stocks overshadow "stay-at-home" stocks popular during the pandemic.

Continue reading for more on today's market, including:

• Options bulls blast Farfetch stock after a revenue beat.
• These 11 cannabis stocks are making moves right now.
• Plus, Walmart monitoring store capacity once again; major bank stock surges after multi-billion dollar acquisition; and mattress stock plummets after earnings miss.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts traded on Friday, and 925,101 put contracts. The single-session equity put/call ratio dropped to 0.50 and the 21-day moving average stayed at 0.50. 
2.  Walmart Inc (NYSE:WMT) is up 1.5% in pre-market trading, after the retail giant said it started monitoring the number of customers in its stores once again to curb the spread of COVID-19. In other news, the company said it is selling majority stake of Japanese supermarket chain Seiyu and e-commerce company Rakuten for over $1 billion. Year-to-date, WMT is up 26.7%.
3. PNC Financial Services Group Inc (NYSE:PNC) is up 2% before the bell, after the major bank said it would buy the U.S. unit of BBVA (BBVA) for $11.6 billion in an all-cash transaction. The purchase constitutes the second largest banking transaction in the country since the 2008 financial crisis. In the last six months, PNC stock has gained 26.3%.
4. The shares of Casper Sleep Inc (NYSE:CSPR) are down 13.2% in electronic trading, after the mattress concern reported worse-than-expected third-quarter losses and revenue. The company attributed the disappointing results to supply chain issues caused by the pandemic. In the last nine months, CSPR has lost 27.6%.
5. The week kicks off with the latest Empire State Manufacturing Index data.

Asian Markets Soar Following Major Trade Deal

The world’s largest trade alliance was formed yesterday, after China and 14 Asia Pacific nations signed a major trade deal that aims to reduce tariffs over time in many areas. The deal, known as the Regional Comprehensive Economic Partnership excludes the U.S., and is the first time that China, Japan and South Korea are in a single trade agreement. In response, tech and auto stocks soared, and Japan’s Nikkei rose 2.1% as exporters made major gains on the back of the trade deal. Close behind, South Korea’s Kospi closed up shop with a 2% rise, while China’s Shanghai Composite and Hong Kong’s Hang Seng tacked on 1.1% and 0.9%, respectively.

Meanwhile, more positive vaccine boosted European stocks, after Moderna announced their COVID-19 vaccine candidate was more than 94% effective. Additionally, banks jumped significantly to lead gains. As a result, France’s CAC 40 has already risen 2.2%, while London’s FTSE 100 so far has tacked on 1.8%. Rounding out the region, the German DAX has managed a 1% rise.