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 U.K. stocks rose on Monday, after AstraZeneca reported its coronavirus vaccine was effective, giving a shot in the arm to travel, leisure and energy companies.
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U.S. stock indexes on Monday look set to kick off a holiday-shortened week on a modestly higher note as a steady flow of updates on progress toward effective coronavirus remedies and cures creates a potential palisade against COVID-19.
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U.S. stock futures rose Monday, supported by positive Covid-19 vaccine data from AstraZeneca and FDA emergency approval for Regeneron's antibody treatment.
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Shares of Tesla Inc. rallied into record territory Monday, after Wedbush analyst Dan Ives boosted his base-case price target, and said he envisions a scenario in which the electric vehicle market leader's stock reaches $1,000.
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 The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 58.7 million on Monday, according to data aggregated by Johns Hopkins University, while the death toll rose to 1.39 million. The U.S. has the highest case tally in the world at 12.2 million. The U.S. added 1 million cases in just six days; it took seven days to rise to 11 million from 10 million, and 11 days to climb to 10 million from nine million. The U.S. also has the highest death toll at 256,798, or more than a fifth of the global total. The U.S. counted 141,641 new cases on Sunday, and at least 834 people died, according to a New York Times tracker. In the last week, the U.S. has averaged 171,461 cases a day, up 54% from the average two weeks ago and cases are rising in 50 states and territories. There are currently a record of 83,782 COVID-19 patients in U.S. hospitals, according to the COVID Tracking Project, topping the previous record of 83,227 set a day ago.
Brazil has the second highest death toll at 169,183 and is third by cases at 6.0 million. India is second in cases with 9.1 million, and third in deaths at 133,738. Mexico has the fourth highest death toll at 101,676 and 10th highest case tally at 1 million. The U.K has 55,120 deaths, the highest in Europe and fifth highest in the world, and 1.5 million cases, or seventh highest in the world.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Shares of Ideanomics Inc. soared 31.8% on heavy volume in premarket trading Monday, after the company focused on investing in disruptive technologies announced the doubling of its investment in California-based Solectrac Inc., which makes battery-powered electric tractors. Trading volume was 11.4 million shares ahead of the open, already nearly reaching the full-day average of about 11.7 million shares. Ideanomics said it invested an additional $1.3 million in Solectrac, which increases its ownership stake to 24%. Ideanomics had announced on Oct. 22 an investment of $1.3 million to buy the 14.7% stake in Solectrac. Ideanomics said the latest investment allows it to recognize its stake in Solectrac under the equity method of accounting under generally accepted accounting principles (GAAP). "We believe Solectrac has enormous potential and, given the uptick in both product inquiries and investment interest they are seeing, we exercised our rights to increase our stake so we can help Solectrac scale to meet anticipated market demand," said Chief Executive Alf Poor. The stock has soared 80.0% year to date through Friday, while the S&P 500 has gained 10.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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The stocks making the biggest moves in premarket trading include Merck, Korn Ferry, Regeneron, and more.
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Stock benchmarks closed out the week lower, but the Nasdaq Composite booked a weekly gain as rising COVID-19 cases fan doubts about the economic recovery, offset partly by optimism over vaccines prospects.
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