Moderna Weighs Down the Stock Market; Uber, Fastly Fall

Stocks remained in somewhat of a holding pattern on Thursday morning, as investors tried to figure out the potential future course of the stock market despite a host of countervailing factors pulling indexes in different directions. Major benchmarks once again saw mixed performance, reflecting the efforts among market participants to rotate into the most promising stocks available. As of 11:30 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 107 points to 34,337. The S&P 500 (SNPINDEX: ^GSPC) inched higher by 3 points to 4,170, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 58 points to 13,523.

Moderna (NASDAQ: MRNA) has been one of the most-watched stocks in the market over the past year, but even though the biotech stock announced favorable earnings results, investors are worried about the possible ramifications of efforts going on at the federal government level regarding its COVID-19 vaccine. Meanwhile, Uber Technologies (NYSE: UBER) and Fastly (NYSE: FSLY) both suffered declines after their respective earnings releases. Below, we'll get into the details.

Shares of Moderna were down almost 8% on Thursday morning. Even though the biotech's first-quarter financial report gave shareholders plenty of reason to celebrate, worries about how much money Moderna will be able to reap in the future weighed on investor confidence.

Source Fool.com