The phased reopening of U.S. business and social life gained traction on Monday with more Americans emerging from coronavirus lockdowns and financial markets boosted by promising early results from the first U.S. vaccine trial in humans, Reuters reported.
Earlier in the day came word that a COVID-19 vaccine under development by Massachusetts-based biotech firm Moderna Inc had produced protective antibodies in a small group of healthy volunteers during a safety trial launched in March.
The findings, offering a glimmer of hope that the experimental vaccine may ultimately prove effective, sent Moderna’s shares soaring 20% on Monday and helped lift the overall stock market about 3% to a 10-week high.
Until a vaccine or cure can be found, lockdowns on commerce and social gatherings remain the chief weapon for fighting the pandemic, even while ravaging the U.S. economy.
Public health experts caution that easing stay-at-home orders and mandatory business closures is still risky while diagnostic testing remains scant in many places, leaving in doubt how much virus lurks undetected.
Although nearly all 50 states have begun reopening, only 13 had met federal guidelines for safely lifting restrictions as of Sunday, according to a Reuters analysis, raising concerns that infections and deaths could surge anew.
While some consumers have voiced hesitancy about returning to shopping malls and restaurants just yet, others were clearly ready to do so.
“We need to get the economy going again. People are either out of money or will be very soon,” said Martin Bermudez, 48, as he and a companion enjoyed ham-and-cheese omelets at a cafe in Miami.
They were among the first diners back in the eatery for sit-down table service after more than two months of takeout only.
The pandemic has afflicted the United States more than any other country, with more than 1.5 million known infections and nearly 90,000 deaths.
A revision to an influential coronavirus mortality model periodically updated by University of Washington researchers predicted on Monday that 143,357 Americans will die from COVID-19 by early August, about 3,600 fewer than last projected.
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