| Want the lowdown on what's moving European markets in your inbox every morning? Sign up here. Good morning. There's fresh hopes on a coronavirus vaccine, the World Trade Organization is looking for a new leader and OPEC+ is holding a key meeting. Here's what's moving markets. Moderna Hopes Moderna Inc.'s Covid-19 vaccine produced antibodies to the coronavirus in all patients tested in an initial safety trial, federal researchers said, clearing an important milestone. The findings will raise hopes that a vaccine can be brought to market quickly, though there is some caution as a number of patients in the trial experienced side effects, with some of them severe. Still, the news was welcomed as Florida reported a record number of coronavirus deaths, while in Asia, Tokyo raised the Covid-19 warning to the highest level as infections spread. In the travel sector, Scotland-based flight booking platform Skyscanner Ltd. is the latest firm set to cut jobs, while Heathrow Airport is introducing cleaning robots. Hot Seat The World Trade Organization today starts its selection process for a new director general, after the incumbent decided to quit a year early citing personal reasons. The eight candidates include former U.K. trade secretary and Conservative leadership hopeful Liam Fox, Korea's trade minister Yoo Myung-hee and former Kenyan Foreign Minister Amina Mohamed. The selection is done by consensus rather than voting, and betting odds favor Kenya's Mohamed -- who would be the first woman and the first African to lead the body. The successful candidate will need to navigate the WTO through a credibility crisis as trade wars, pandemic-driven de-globalization and a falling-out with the U.S. hamper its role as a global arbiter. OPEC+ Meeting OPEC+ holds a key online meeting of its Joint Ministerial Monitoring Committee today to recommend whether the alliance should maintain or taper oil production cuts. There are at least signs that disputes among members over cheating of quotas are being resolved, with Saudi Arabia commending Iraq for implementing almost all its pledged cuts and Nigeria telling the kingdom it was committed to hitting its target. However, the group could seek extra production cuts from members that haven't missed their targets again in June. Oil edged higher this morning after a report pointed to a drop in U.S. crude stockpiles. Tax Tussle Apple Inc.'s attempt to ward off a whopping 13 billion euro Irish tax bill will get a ruling from the EU's General Court today. The bill, imposed by EU regulators and vehemently opposed by both Apple and Ireland, follows a 2016 European Commission order finding that Apple's practice of channeling sales through units in low-tax member state Ireland violated the bloc's state aid rules. It's a key milestone in antitrust chief Margrethe Vestager's five-year crackdown on U.S. tech giants, while Europe grapples with member states' sweetheart tax deals meant to attract foreign investment. Irish Prime Minister Leo Varadkar said that the court's decision would likely be appealed either way. Coming Up… European stock futures are higher with Asia stocks, though Hong Kong shares underperformed after U.S. President Donald Trump ordered an end to Hong Kong's special status. Keep an eye on U.K.-China relations, too, after Beijing called Britain's ban on Huawei Technologies Co. "disappointing and wrong." Luxury trench coat designer Burberry Group Plc updates later while semiconductor industry supplier ASML Holding N.V.'s third quarter net sales forecast beat estimates this morning. Goldman Sachs Group Inc. reports later after JPMorgan Chase & Co.'s record trading revenue helped counter the biggest loan-loss provision in the firm's history. Finally, watch Delivery Hero SE shares after the company said it's holding regular discussions with other food delivery companies about potential deals. Today's data include U.K. inflation and U.S. industrial production, and we'll get a rate decision from Canada. What We've Been Reading This is what's caught our eye over the past 24 hours. And finally, here's what Cormac Mullen is interested in this morning FOMO frenzy is leading to a worrying spike in moon shot trading. A speculative fervour to chase winning shares has led to a rise in super bullish options bets that mathematically at least have little chance of paying off. As my colleague Yakob Peterseil noted, traders are bidding up the price of Amazon.com options that have the $1.5 trillion e-commerce colossus -- already up 67% this year -- jumping another 50% in the next three months. The implied volatility of way out-of-the-money call options in the stock has surged to a record relative to at-the-money contracts -- a sign of unprecedented bullish demand. Meanwhile, demand for bullish options on a major iShares ETF tracking Chinese large caps -- which itself has surged 10% this month -- has jumped the most on record. And on Monday, almost 40,000 Robinhood accounts added high-flying Tesla shares during a single four-hour span of day-trading mania, according to website Robintrack.net. Never mind worries that equities have diverged from fundamentals, this behaviour suggests they are now becoming divorced from even "normal" bullish technical momentum too.  Cormac Mullen is a Cross-Asset reporter and editor for Bloomberg News in Tokyo. 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