US health official Fauci: Initial study of Moderna vaccine encouraging

The initial study of Moderna's coronavirus vaccine is encouraging, Dr Anthony Fauci, director of the US National Institute of Allergy and Infectious Diseases, told CNBC on Friday.

"We can build on Remdesivir's success," Dr Fauci added. Earlier in the day, Dr Fauci told CNN that he was cautiously optimistic about Moderna's vaccine.

Market reaction

Wall Street's main indexes recovered modestly from session lows after these comments. As of writing, the Nasdaq Composite was flat on the day while the S&P 500 and the Dow Jones Industrial Average were down 0.25% and 0.5%, respectively.