The Briefing Room
General Category => Economy/Business => Topic started by: catfish1957 on November 10, 2020, 03:15:17 pm
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(https://www.thenewspots.com/wp-content/uploads/2020/04/covid-vaccination-usa-dollars-coronavirus-flu-epidemic-speculation-business-vaccine-american-money-health-177497460.jpg)
https://finance.yahoo.com/news/election-2020-stock-market-news-updates-november-10-2020-231624467.html (https://finance.yahoo.com/news/election-2020-stock-market-news-updates-november-10-2020-231624467.html)
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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.â€
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.
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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.
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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?