European stocks were higher on Wednesday due to more positive vaccine news in the region.
The pan-European Stoxx 600 index was 0.2% higher by mid-morning. London’s FTSE 100 index rose 0.25% after coronavirus vaccine developed by the University of Oxford and AstraZeneca was approved for emergency use in the UK
The announcement marks another step in the global fight against the pandemic and allows the UK to significantly expand its Covid-19 vaccination program, launched in December. According to government statistics, the Pfizer-BioNTech vaccine has been given to 600,000 people in the UK so far. AstraZeneca’s shares rose 0.7% on Wednesday.
European markets are contending on Wednesday with a lackluster trend seen in their global counterparts; Asia-Pacific stocks were mixed in trading overnight after the major indices on Wall Street hit their multi-day earnings zone on Tuesday. Meanwhile, the dollar weakened against other major currencies.
China’s GDP growth in 2019 was revised down to 6.0%, according to a statement released Wednesday by the country’s National Bureau of Statistics. That compared to a 6.1% growth rate before the 2019 revision.
Meanwhile, futures on the US stock index had changed little during Tuesday night trading as the market tried to reclaim record highs. Contracts linked to the Dow Jones Industrial Average yielded 36 points. S&P 500 futures gained 0.12%, while Nasdaq 100 futures were flat.
The move came after the big averages closed lower on Tuesday, giving up early gains that pushed stocks to record highs at the opening bubble. Washington lawmakers continue to disagree on direct payments to Americans that are part of an economic stimulus package amid the ongoing coronavirus pandemic.
Senate Majority Leader Mitch McConnell blocked Senate Minority Leader Chuck Schumer’s attempt to speed up the bill passed by the House on Monday, pushing checks from $ 600 to $ 2,000. Incentive payments could go out as early as Tuesday night, Treasury Secretary Steven Mnuchin said.
President Donald Trump has backed higher payments, saying in a tweet Tuesday that the move “ASAP. $ 600 IS NOT ENOUGH!”
Lawmakers in the UK will vote Wednesday on whether or not to approve the post-Brexit trade deal reached by negotiators on Christmas Eve. Prime Minister Boris Johnson called on parliament to back the deal.
There are no major earnings or data releases on Wednesday.
CNBC’s Eustance Huang and Pippa Stevens contributed to this market report.