Last night after the state of the union address, futures were slightly lower. Then about midnight, or possibly later, they fucking exploded on a report from Chinese media of a coronavirus breakthrough. Separately, UK scientist claim to have sequenced and now working towards a fucking vaccine, all in 14 days.
I’m too cynical and jaded to report on this type of stuff, especially when the WHO comes out and says ‘WHOA, fuck off, nothing to see here.’
The World Health Organization (WHO) has played down media reports of a drug breakthrough against the coronavirus outbreak, saying there are “no known” drug treatments against the virus.
“There are no known effective therapeutics against this 2019-nCoV and WHO recommends enrollment into a randomized controlled trial to test efficacy and safety,” WHO said in a statement on Wednesday.
“A master global clinical trial protocol for research and prioritization of therapeutics is ongoing at the WHO,” it added.
Earlier in the day (See 7:00 p.m. update), Reuters said a Chinese TV media outlet had reported that a research team at Zhejiang University had found an effective drug to treat people with the new coronavirus. The news agency, citing traders, suggested this was a reason for the move higher in stocks.
Separately, Sky News reported Wednesday that a scientist from Imperial College London had made a significant breakthrough in the race to develop a vaccine for the coronavirus. The vaccine is thought to be able to reduce the development time from “two to three years to just 14 days,” Sky said.
Nevertheless, futures have given up zero of their splendid gains and stocks look to chop hands and dicks off at the open. We’re looking at another 100 Nasdaqs when it’s all said and done. NO BIG DEAL. This is good, especially since I bought all of them stocks yesterday.If you enjoy the content at iBankCoin, please follow us on Twitter