Moderna Shares Soar on Cancer Vaccine Results; Target and Lowe's Report Tariff Refund Impacts
Shares of Moderna surged as much as 100% in premarket trading after its experimental personalized cancer vaccine, developed with Merck, showed positive results in a late-stage trial. The news comes amid broader market volatility, with the S&P 500 falling for a third consecutive session due to rising bond yields and oil prices. Target reported that tariff refunds contributed $752 million to its second-quarter net earnings, prompting an upward revision of its full-year outlook. In contrast, Lowe's credited similar refunds but issued a cautious forecast amid weak DIY spending and missed revenue expectations, causing its stock to fall over 3% premarket. Treasury yields are currently lower ahead of the Federal Reserve’s policy meeting minutes release. President Donald Trump announced a three-day pause on planned 50% tariffs on Canadian goods after reaching an agreement with Prime Minister Mark Carney. The delay avoids immediate economic disruption for businesses reliant on cross-border trade.
Topics: cancer vaccine trial results Federal Reserve Merck Moderna Treasury yields