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ERROR: type should be string, got "https://www.barrons.com/articles/dow-jones-industrial-average-rose-coronavirus-vaccine-moderna-stock-51589836273\nThe Dow Surged 912 Points Because a Coronavirus Vaccine Passed a Trial\nEvie Liu\nMay 18, 2020 5:28 pm ET\nThe Dow rallied after Biotech Moderna announced Monday that the interim phase-1 clinical trial data for its coronavirus vaccine candidate mRNA-1273 shows positive results.\nStocks surged Monday on positive news about a potential Covid-19 vaccine. The Dow Jones Industrial Average jumped 911.95 points, or 3.85%, to close at 24,597.37. The S&P 500 increased 90.21 points, or 3.15%, to end at 2953.91, and the Nasdaq Composite rose 220.27 points, or 2.44%, to close at 9234.83.\nBiotech Moderna (ticker: MRNA) announced Monday that the interim phase-1 clinical trial data for its coronavirus vaccine candidate mRNA-1273 shows positive results. The company said that eight individuals treated with the vaccine at two different dose levels developed the same levels of antibodies in their blood as is found in the serum of people who have recovered from Covid-19 infections. The company said that the vaccine appeared safe and well tolerated, and no serious adverse events had been reported.\nThough a small sample, the study represents the first positive data on human trials of a Covid-19 vaccine. It could boost confidence across the market that the pharmaceutical industry will be able to make a vaccine available. Moderna says it will begin the Phase 3 trial of the vaccine in July, and if subsequent trials go well, the vaccine could be in widespread use by the end of 2020 or early 2021. Modena stock soared 20% on Monday.\nInvestors also got some renewed confidence from Federal Reserve Chair Jerome Powell, who reiterated in a Sunday interview that the Fed has not exhausted its options to support the U.S. economy despite the plethora of steps it has already taken over the past two months. “We’re not out of ammunition by a long shot,” said Powell, noting that existing credit programs could be enlarged and new lending programs could be added: “There’s really no limit to what we can do with these lending programs that we have.”\nStill, Powell reiterated the Fed’s resistance to negative rates, suggested that additional fiscal policy support may be needed, and noted that a full economic recovery may not be possible until a Covid-19 vaccine is available. Investors will hear from Powell again Tuesday morning when he testifies before the Congress.\nOil is rallying for the third consecutive session, with West Texas Intermediate crude’s June futures rising 8.12% to settle at $31.82 per barrel on Monday—ahead of the contracts’ Tuesday expiration.\nJust one month ago, unbalanced supply and demand and a lack of storage space have pushed the WTI crude’s May futures into negative territory right before their expiration, as traders tried to avoid taking physical crude delivery.\nBut now, as countries emerged from coronavirus-induced lockdowns and travel restrictions, traders are betting on improving demand and steeper production cuts by global oil producers in the second half of the year. The WTI crude’s June futures have gained nearly 70% month to date and up over 25% in the past three sessions alone.\nElsewhere in the world, Japan has officially entered a recession. The world’s third-largest economy shrank an annualized 3.4% in the first quarter of the year, following a 7.1% drop in the last quarter of 2019, partially due a massive typhoon hit. Economists generally call a recession when a country’s gross domestic product fell from the year-ago levels for two consecutive quarters.\nWrite to Evie Liu at evie.liu@barrons.com\nStocks surged Monday on positive news about a potential Covid-19 vaccine."