Stock Market News: The 3 Stocks That Need a Coronavirus Vaccine the Most

Monday brought renewed enthusiasm to Wall Street as investors looked favorably on efforts to reopen the U.S. economy. With several states implementing new procedures to allow businesses to open, millions of Americans are looking forward to getting back to some semblance of normal life. Market participants also reacted positively to comments from Federal Reserve Chair Jerome Powell Sunday night that lent credibility to the idea that the central bank still has ways to help in the economic fight against the pandemic's effects. Just after 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 806 points to 24,492. The S&P 500 (SNPINDEX: ^GSPC) rose 86 points to 2,950, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 218 points to 9,233.

One of the things that buoyed sentiment among investors was the effort to develop a coronavirus vaccine. Shares of Moderna (NASDAQ: MRNA) were higher by 23% following positive results from early tests of its COVID-19 vaccine in humans. Certainly early-phase trials of vaccine candidates will have a direct impact on the pharmaceutical and biotech stocks sponsoring them. But in the long run, the three stocks that stand to gain the most from a coronavirus vaccine are cruise ship operators Carnival (NYSE: CCL), Norwegian Cruise Line Holdings (NYSE: NCLH), and Royal Caribbean (NYSE: RCL). That's a big part of why the three cruise ship stocks are up between 13% and 18% Monday morning.

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Source Fool.com