Posted on 11/16/2020 8:30:23 AM PST by SeekAndFind
The Dow soared to a record high Monday after Moderna (MRNA) became the latest major drug-maker to announce upbeat data for its COVID-19 vaccine candidate, building on hopes that an effective inoculation will soon be available.
The Dow rose more than 450 points, or 1.5%, topping its previous record intraday high of 29,933.83 from Nov. 9. The S&P 500 also increased, while the Nasdaq hugged the flat line. Shares of airlines, cruise lines, hotels, and restaurant companies surged anew as the latest vaccine data suggested consumers might return more enthusiastically to these businesses. Moderna’s stock jumped more than 9% to a record high shortly after market open.
Moderna said Monday that preliminary data from its late-stage clinical trial showed its vaccine candidate was 94.5% effective in preventing COVID-19 in participants. That followed Pfizer’s (PFE) announcement last week that its own vaccine candidate, which uses similar new messenger RNA technology, had an efficacy rate of more than 90%, or well above what many public health officials had been expecting.
Traders looked beyond the increasingly dire coronavirus situation in the U.S., as hopes that a vaccine would be approved and distributed in the near-term helped to assuage some fears. The S&P 500 jumped to an all-time closing high on Friday as each of the three major indices posted weekly gains. Stocks and sectors that were hardest-hit by the pandemic made up some ground after lagging for the year-to-date, while tech stocks underperformed. Shares of Zoom Video Communications (ZM), Slack (WORK) and Netflix (NFLX) were each pressured.
“As we hear more positive news on the COVID-19 vaccine, the overblown work-from-home trade is beginning to unwind because some of those stocks had baked in no vaccine at all,” David Trainer, CEO of investment research firm New Constructs,
(Excerpt) Read more at finance.yahoo.com ...
Double 30K when Trump finishes 2nd term.
BFD. Let’s see where it is in a year after Sanders and Warren have had their way with the economy.
It won’t crash, because the Wall St. types are salivating at more sell off to China, but it won’t be as strong as it is now, since our economy will be shrinking as it’s sold off bit by bit.
Another Biden Miracle!
Double 30K when Trump finishes 2nd term.
What the Hell do you mean?
Biden hasn't even been installed and we've already gotten a biden vaccine and a biden stock market! </enemedia>
I think behind the scenes they are keeping the market high so people will relax and accept biden and crowd. Watch what happens after that.
Being an old trapper I learned long ago to use good bait to get them into the trap.
l8r
All these people watching their retirement accounts soar, is that the “disaster” the media keeps referring too?
I have a question I’d like to toss out for consideration….
Even before news of a vaccine, the market had done reasonable well since the election. Basically, it looks like the market was anticipating the news of a Bye-Done win and thus a rising market isn’t all that unexpected since big business, Wall St. and the globalists in general all supported Bye-Done and what they believe his policies will yield for them…….particularly the globalists involved with China trade since they all figure that it will be good for them.
Here’s the obvious question… I would never bet against PDJT and his lawyers and it seems inevitable that they are about to release devastating information that backs up the claim that the election was stolen. The one thing that markets don’t like is instability and this would be instability of the highest order, wouldn’t it? Let’s assume that the LSM is unable to squelch the information which they no doubt will attempt to do (if they are totally able to squelch it, then America has bigger problems).
How about this as question to pose to your broker…. “what happens to the stock market if it’s confirmed that the Dem-Rat Party just executed a massive criminal electoral fraud on the nation and it’s been revealed that Trump clearly won after all?” I’d be very curious to hear what their view is on that scenario….
I asked lets see what kind of answers I get from my chat group I am in.
They just posted laughing emojis. Most people don’t take this very seriously. I give it a decent chance, but it’s uphill for sure.
I look forward to hearing what the consensus is... I’ve been asking too and will post what I hear as well.
exactly my thoughts.
My guy hasn’t contacted me so it’s going to be good for the foreseeable future. (psst. he also told me to buy Amazon and Apple years ago)
We need that bump in preparation for a 30% market decline after the first two years of Quid Pro Joe and what’s her name.
Wall street celebrating the tyrannical new order as the techno crats and the donor class will set up for themselves, a nice cushy position of power while the average American and American conservatives suffer greatly in the new order of tyranny.
Obama blamed Bush into his second term.
Biden will take credit deep into Trump’s first term.
What is the Over/under for Nasdaq moving out of New York/New Jersey??
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