Oil Surges, Treasury Yields Climb a Fifth Day, Software Retreats: Stock Market Today
The 10-year Treasury yield hit a 19-month high and crude jumped above $88 as traders lifted Fed rate-hike odds to 68%, cracking high-multiple software stocks.
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Moderna starts Phase 1 trials for Ebola vaccine mRNA-1469. See premarket MRNA stock reaction, analyst updates, and ETF exposure.
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The 10-year Treasury yield hit a 19-month high and crude jumped above $88 as traders lifted Fed rate-hike odds to 68%, cracking high-multiple software stocks.
Moderna’s cancer vaccine breakthrough puts biotech, mRNA and genomics ETFs in focus. Here are the funds worth watching.
The article provides an in-depth analysis of the iShares Biotechnology ETF (IBB), a smart beta ETF with over $10.5 billion in assets that tracks the Nasdaq Biotechnology Index. With a 0.44% expense ratio and 252 holdings, IBB offers diversified exposure to biotechnology and pharmaceutical companies, though it carries higher risk with a beta of 0.70 and 20.59% standard deviation. The ETF returned 23.89% year-to-date and 51.48% over the past year as of August 2026, with top holdings including Amgen, Vertex Pharmaceuticals, and Gilead Sciences.
Fed Chair Kevin Warsh said underlying inflation has not improved, pushing September hike odds to 60%, lifting the 2-year yield
BioNTech and Moderna, both mRNA vaccine pioneers during the pandemic, are now pivoting to cancer vaccines as COVID revenue declines. Moderna is favored due to stronger recent clinical progress, including positive phase 3 results for its personalized cancer vaccine intismeran autogene and FDA approval for mFLUSIVA flu vaccine. While BioNTech has a deep pipeline including pumitamig, it has yet to deliver comparable phase 3 wins. Moderna's $61.2 billion market cap reflects investor confidence in its near-term commercialization prospects versus BioNTech's $26 billion valuation.
Moderna secured FDA approval for mFlusiva, the first mRNA-based seasonal flu vaccine, establishing a foothold in the multibillion-dollar flu vaccine market. However, GSK announced plans to advance its own mRNA flu vaccine into phase III trials, which targets two viral proteins (HA and NA) and showed superior immune responses in phase II studies. While GSK's vaccine is still years away from market approval, it could pose a competitive challenge to Moderna's mFlusiva, which currently targets only HA like traditional flu vaccines.