The markets are up this morning driven by news that the U.S and China are making progress in their trade negotiations. According to the U.S trade negotiator Robert Lighthizer and his Chinese colleague, the two countries were fully committed to ensuring that the negotiations turn out successful.
This reassurance has led to higher appetite for stocks due to the reduced geopolitical risks. According to Naeem Aslam of Avatrade, the possible positive outcome of the trade negotiations between the two largest economies in the world had taken away a major barrier in the global stock markets.
The news also come at a time when another risk factor to the economy seems to be falling under control. On Sunday the FDA approved the use of blood plasma in the treatment of COVID-19. In the event that it shows widespread effectiveness, then it would be a green light for the world economy to go back to normal. At the same time, hopes of a COVID-19 vaccine are rising by the day.
Several biopharma companies and academic institutions are in advanced stages in the race for a vaccine. This has added an extra layer of positive sentiment in the market. In this environment of high optimism, stocks with positive news or anticipated positive news are rallying. Some of the top performers ahead of markets are as below:
Viveve Medical Inc [NASDAQ: VIVE]
Viveve is a top performer pre-market and is up b 41% at the time of writing. This comes after the company announced that it has positive primary efficacy data from its Stress Urinary Incontinence (SUI) feasibility study that done over 5-months.
The company also announced that it had got positive results from its in-vivo pre-clinical study that was done to test the company’s new inert sham that would be used in the upcoming PURSUIT trial in the U.S. Commenting on the results, CEO Scott Durbin stated that they believed that the results were in support of the company’s thesis stating that cryogen-cooling had a good therapeutic effect. The results are likely to support this stock through the day.
Ocugen Inc [NASDAQ: OCGN]
Ocugen Inc is another top perfumer this morning and is up by 19%. This comes as investors await news from the company about its forward-looking statements. The stock is also buoyed by the fact that an insider recently bought a sizeable amount of the stock. The company’s founder Shankar Musunari bought $108k worth of stock, an indicator that he has confidence in the company.
Vivopower International PLC [NASDAQ: VVPR]
This is another top performer this morning and is up by 18%. This follows the company’s release of its finances for the financial year ending 30th June 2020. The company reported that revenues grew by 12% compared to the last financial year. The company also reported that gross revenues grew by 28% compared to the last financial year. This has inspired investor confidence in the stock pre-market.