Markets rose on Wednesday.
The S&P 500 rose 1.5 percent to another record high while the STOXX Europe 600 jumped 1.7 percent.
While the global tally for confirmed COVID-19 cases rose to near 26 million on Wednesday, leading infectious disease health expert Dr Anthony Fauci said that a COVID-19 vaccine could come by the end of 2020.
In the meantime, hopes for a rapid recovery in the US economy saw a minor setback on Wednesday after ADP reported that 428,000 private-sector jobs were created in August, fewer than an expected gain of 900,000 jobs.
“It’s a pretty substantial miss, but still much better than what we saw last month,” said Mike Loewengart, managing director investment strategy at E-Trade Financial.
Another report showed that US factory orders rose 6.4 percent in July for a third consecutive increase.
Also, Chris Armbruster, a portfolio manager at Kayne Anderson Rudnick, said that the “unprecedented fiscal and monetary stimulus, not only in the U.S., but around the world, is going to provide the economy with a bridge”.
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