Stock Market News: Nvidia shares soar, Fitch mulls US rating downgrade, Target under fire

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BioNTech is proceeding with COVID-shot in line with WHO guidance

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MRNA $131.59 -6.16 -4.47
NVAX $7.29 -0.70 -8.76

Germany’s BioNTech said it was on track to introduce
a COVID-19 shot
by the early fall in the northern hemisphere that is adapted to currently dominant virus variants in line with recommendations by the World Health Organization.

BioNTech was targeting regulatory approval by the end of the summer to allow for a seasonal vaccination campaign to start in early autumn, CEO and co-founder Ugur Sahin told shareholders at the biotech firm’s annual general meeting on Thursday.

BioNTech/PFizer’s new formulation would aim to produce antibody responses to the XBB.1.5 or XBB.1.16 variants, as preferred by the WHO, Sahin said, adding that the partners would introduce a ready-to-use single dose, a change from the multi-dose vials that were standard during the pandemic.

Moderna and Novavax have also been working on versions of their respective vaccines targeting XBB.1.5 and other currently circulating strains.

Fitch considers downgrade of USA

Fitch Ratings services said it is mulling a downgrade of the U.S.’s AAA credit rating, a move that could send shock waves through the financial markets as the debt ceiling deadline looms.

Nvidia shares surge

Nvidia Corp.



Nvidia stock saw a gain of over 20% putting its annual run to well over 100% after quarterly earnings highlighted its lead in the race to dominate AI.