The Dow Jones Industrial Average fell 0.08% on Wednesday, but the Nasdaq closed up 2%, and the S&P 500 gained 0.77%.
Encouraging comments from European Central Bank chief Christine Lagarde on continued economic support boosted European shares for the third straight session.
Moderna Inc said on Wednesday it is preparing to submit data on its experimental COVID-19 vaccine to an independent safety board, which should help determine the vaccine’s efficacy.
Pfizer also said on Monday that its vaccine was more than 90% effective and it may release safety data later this month.
Investors the world over are keenly awaiting details on both drugs, but some analysts said it will still take a long time to distribute an effective vaccine.
In the currency market, the New Zealand dollar soared for a second consecutive session to a 19-month high as investors unwound bets on the introduction of negative interest rates.
The kiwi got an added boost after Reserve Bank of New Zealand Assistant Governor Christian Hawkesby said the economy required less stimulus than it did in August.
The U.S. dollar edged lower against the yen and yuan as traders adjusted positions before U.S. President-elect Joe Biden takes office next year.
Global oil benchmark Brent rose 0.02% to $43.81 a barrel, which is near a two-month high. U.S. crude futures also gained 0.14% to $41.51 a barrel.
“Crude markets remain torn by the bleak near-term picture with curfews, closures and shutdowns becoming more widespread across the U.S. and Europe; and the medium-term picture where vaccines may bring a return to more normal conditions,” Westpac analysts for Australia and New Zealand wrote in a note Thursday.
Spot gold edged up 0.27% to $1,869.75 an ounce.
Benchmark 10-year Treasury yields fell slightly to 0.9357% and the yield curve flattened in Asian trade. The U.S. bond market was closed on Wednesday in observance of Veterans Day after the 10-year yield reached the highest level since March.
(Reporting by Stanley White and Lawrence Delevingne; Editing by Sam Holmes and Christopher Cushing)
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