Upbeat COVID-19 Vaccine News Has Effect on Wall Street

 

 

Wikimedia

 

 

 

Last week was upbeat for the Stock Exchanges as the hope generated by the press release of Pfizer and Monday news release by Moderna of an easier to use vaccine has proven to be a stimulus for the markets, hopefully re-opening  the economy by finding a cure for COVID-19. Joe Biden says he will bring back lockdowns and stay-at-home orders during the rising COVID-19 cases nationwide only as a last resort.

Investors bid up stocks that could turn around the economy result of positive effects of vaccines and the possibility of a cure for the deadly COVID-19. Tech companies and major online retailers have helped lift the economy. Investors have currently rejected tech stocks which drive the stay at home or lockdown culture.

The Effects on The Markets Have Been as Follows so far this past Monday:

  • The S&P Index was driven up by around 2% for the week
  • The Nasdaq Composite briefly traded above 12,000
  • The Russell 2000 Index rallied around 6%
  • The Dow almost hit 30,000

Source Schaeffer’s investment research

“This morning however contracts on the S&P 500 and Dow each ticked down after both indices posted record closing highs a day earlier.

“Morgan Stanley strategist Mike Wilson said he expects the S&P 500 will be range-bound between 3,150 and 3,550 as the market grapples with rising new COVID-19 cases and restrictions, before jumping to 3,900 by year-end next year. In some of the latest new virus-related restrictions, California on Monday sharply rolled back reopening plans across the state, and Michigan announced a partial lockdown starting Wednesday and lasting for three weeks.” Source Yahoo News

Latest data showed U.S. retail sales increased more than expected in September, though recovery from the recession is at a crossroads as government money runs out and companies continue to lay off workers. Source Reuters

In other news today- Tesla soars 7% after S&P inclusion


Follow us on Google news for more updates and News










PLEASE READ THE IMPORTANT DISCLOSURES BELOW.

This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.