Wall Street indices closed modestly higher on Wednesday after Moderna surged 176% on news that its personalized mRNA cancer vaccine intismeran, developed with Merck, reduced melanoma recurrence and spread in a Phase 3 trial. The Dow Jones Industrial Average gained 0.2% to 53,463, while the S&P 500 and Nasdaq each rose 0.2%.
The US Treasury expanded long-dated bond buybacks, easing pressure on fixed-income markets, while President Donald Trump paused 50% tariffs on Canadian goods for three days. In corporate news, Nvidia agreed to pay $6 billion to license AI models from Poolside, and OpenAI's finance chief Sarah Friar said the company plans to go public in 2027 after filing with the SEC. Apple is cutting jobs in its Siri and Vision Pro teams.
Asian markets declined sharply, with Japan's Nikkei shedding 3% and South Korea's KOSPI tumbling 5%. Bitcoin traded near $77,000, up roughly 20% for the week.