[ad_1]
Tuesday, December 8, 2020
Vaccine approval is near
Biontech gives Wall Street a tailwind
Biontech and Pfizer’s candidate vaccine receives high marks from the US FDA The news generates confidence on Wall Street and slight price hikes. Aircraft maker Boeing, however, has to face another setback.
Wall Street posted slight gains. It was trusted that the US health authority FDA has certified Biontech and Pfizer with the prescribed success criteria for the approval of their corona vaccine. This suggests that the vaccine should be greenlit soon. An FDA-based vaccination committee will discuss an emergency approval Thursday. At the same time, sentiment was negatively affected by the corona pandemic, which continued to rage.
the Dow-Jones Index gained 0.4 percent to 30,174 points during the S and P-500 by 0.3 percent. For him Nasdaq Composite it was up 0.5 percent. All three indices reached new all-time highs.
Meanwhile, the corona crisis is leading to new highs in hospital occupancy in the US Against this backdrop, calls for tougher corona measures in the US are getting stronger. The long-awaited economic stimulus program in the United States is making little progress. On the table is a package valued at 908,000 million dollars. “We are not out of the woods yet. There is a risk of further lockdowns, especially in the United States,” warned Invesco fund manager Georgina Taylor.
After all, a compromise in the US Congress on the US budget is intended to prevent the shutdown of federal agencies. Democrats and Republicans agreed on Monday to adopt a one-week transitional agreement.
Oil prices close somewhat weaker
Little happened in the forex market, with the dollar index rising 0.2 percent. The euro was just above $ 1.21 after $ 1.2137 on Monday night. Traders view the dollar as a supposedly safe haven with an advantage given short-term political risks and the progression of the pandemic. The inflation outlook in the US would have diminished quite a bit in light of the bleak growth outlook.
Oil prices fluctuated back and forth, but tended to be somewhat weak. The price of a barrel of US light grade oil WTI decreased 0.2 percent to $ 45.65, North Sea oil of the variety Brent it gained 0.2 percent at $ 48.90. Distributors spoke of concerns about a drop in demand in the US state of California due to increasingly strict crown locks there. Gasoline consumption is the highest in the United States.
Troy ounce Gold it was up 0.5 percent to $ 1,871. In addition to the ongoing uncertainty, the expectation of an extremely deaf European Central Bank was also supported on Thursday.
Biontech, Pfizer and Tesla on the rise
Among individual stocks increased Biontech Y Pfizer with positive headlines at 1.8 and 3.2 percent. Tesla advanced 1.3 percent. After the vertiginous rise of its shares, the electric car manufacturer has announced that it wants to launch its own shares on the market from time to time, in coordination with several banks and with a total volume of 5,000 million dollars.
Boeing lost 0.7 percent. The aircraft maker has received more cancellations for its 737 Max, including from Virgin Australia, whose order has been cut in half. The part of the luxury home builder Toll brothers It fell 7.9 percent after fourth-quarter earnings fell year-over-year. While sales were up 7 percent due to increased interest in homes during the corona pandemic, higher costs reduced profits. However, earnings per share are still well above expectations.
Arms Company Shares Listed on the Dow Jones Index Raytheon advanced 2.0 percent. The company issues a $ 5 billion share buyback. Company buybacks are a political issue because they have been criticized by the US Department of Defense. The Pentagon wants the company to invest more funds instead. The part of Smart blade it skyrocketed 11.0 percent. The maker of software to run corporate projects has incurred fewer losses than feared.
