Author Topic: Stocks mixed as vaccine euphoria abates, tech selling continues  (Read 203 times)

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Offline catfish1957

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Stocks mixed as vaccine euphoria abates, tech selling continues
« on: November 10, 2020, 10:15:17 AM »


https://finance.yahoo.com/news/election-2020-stock-market-news-updates-november-10-2020-231624467.html

<snipit>

Stocks were mixed Tuesday morning as investors reined in an initial wave of optimism over a promising vaccine candidate. Tech shares remained under pressure, and the Nasdaq dipped further after Monday’s losses.

News that a Pfizer (PFE) and BioNTech’s (BNTX) vaccine candidate was more than 90% effective in preventing COVID-19 in patients in its clinical trial helped fuel a market rally earlier on Monday. During the regular session, the S&P 500 and Dow rocketed to intraday records, with the latter index adding as many as 1,610 points, or 5.7% at session highs. However, both indices pared some gains into market close.

“I think the big surprise here was the efficacy. I think you had polled investors before this, the efficacy range would have been 50-75% as sort of a wide range,” Stuart Kaiser, UBS Head of Equity Derivatives Research, told Yahoo Finance on Monday. “And if this number is truly 90% or above, I think that is what the market is responding so positively to.”

More positive news from companies working on COVID-19 vaccines and therapeutics came out during the overnight session. Eli Lilly (LLY) said its antibody therapy for treating mild to moderate COVID-19 in high-risk patients had received emergency use authorization from the U.S. Food and Drug Administration. Shares of the drug-maker rose more than 3% in early trading.

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Today or maybe the next few days may be a great bookmark/benchmark moment to really truly gauge how much damage Biden and his merry band of socialist do to this country.  ZERO fin. pundits ever expected a 30K DOW back in March.  IMO, it is a excellent testamanet of POTUS Trump's ability to steer through the white water rapids of a pandemic. It ended up being the most dramatic V shaped recovery in financial history.   Four years from now, we may have a 15K DOW, and 15% unemployment, or we might be staring a 50K DOW, while a loaf a bread costs $10.  It all depends on Slow Joe. 
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline Fishrrman

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Re: Stocks mixed as vaccine euphoria abates, tech selling continues
« Reply #1 on: November 10, 2020, 06:07:39 PM »
catfish wrote:
"Four years from now, we may have a 15K DOW, and 15% unemployment, or we might be staring a 50K DOW, while a loaf a bread costs $10.  It all depends on Slow Joe."

Nope.
NOTHING depends on Slow Joe.
He ain't gonna be around four years from now.

My observation re the recent surge in stock prices:
Some folks are "pushin' the market upwards", looking to take profits before too much time into the Biden/Harris regime.

Stock markets don't do well under communism.

Offline catfish1957

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Re: Stocks mixed as vaccine euphoria abates, tech selling continues
« Reply #2 on: November 10, 2020, 09:34:22 PM »
catfish wrote:
"Four years from now, we may have a 15K DOW, and 15% unemployment, or we might be staring a 50K DOW, while a loaf a bread costs $10.  It all depends on Slow Joe."

Nope.
NOTHING depends on Slow Joe.
He ain't gonna be around four years from now.

My observation re the recent surge in stock prices:
Some folks are "pushin' the market upwards", looking to take profits before too much time into the Biden/Harris regime.

Stock markets don't do well under communism.

I kind of used Slow Joe as broad brush.  I'll rephrase with the term socialist regime.  How's that?
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.