New York (AFP)

The New York Stock Exchange opened sharply higher Monday after the announcement by an American laboratory of encouraging preliminary results of clinical trials on a vaccine against the new coronavirus.

Around 1:50 p.m. GMT, its flagship index, the Dow Jones Industrial Average, rose 3.18% to 24,439.62 points

The Nasdaq, with a strong technological coloring, appreciated by 1.86% to 9,181.88 points.

The S&P 500, which represents the 500 largest companies on Wall Street, took 2.64% to 2,939.27 points.

Wall Street had registered a decline over the whole of last week, disturbed in particular by contrasting indicators and a renewed tension between the United States and China: the Dow Jones had yielded 2.1% and the Nasdaq 1.2 %.

The American laboratory Moderna announced Monday "positive interim data" of the initial phase of clinical trials of its mRNA-1273 vaccine project.

The latter appeared to elicit an immune response in eight people to whom it was administered, on the same scale as that seen in those who were naturally infected with the virus, according to a statement from the laboratory.

The full results of this phase 1 trial, however, are not yet known.

For Charles Schwab analysts, "the optimistic results of Moderna's Covid-19 vaccine project give a boost to the strong start of the market."

On Wall Street, the laboratory's action soared by more than 15%.

- Powell careful -

On the economic front, the head of the Federal Reserve, Jerome Powell, continued to be cautious while envisaging a return to growth in the medium term or the long term.

In an interview aired on CBS on Sunday, Powell said the current crisis had "fundamental differences" from the Great Depression, noting that, unlike 1929, all indicators were green for the US economy before the pandemic.

The Fed chairman nevertheless judged that the unemployment rate could reach 20 to 25% in the United States and that the GDP could drop to 30% in the second quarter.

More and more companies have, for their part, planned the gradual reopening of their activity in North America this week. This is the case Monday of the automobile factories, in particular General Motors (+ 9.85%), Ford (+ 0.47%), Fiat Chrysler (+ 7.10%) and Tesla (+ 3.55%).

On the bond market, the 10-year rate on the American debt rose, moving to 0.6833% against 0.6428% on Friday evening.

© 2020 AFP