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Since the opening of the stock market, key US indices react very positively to the fact that the light can now be seen at the end of the dark tunnel:
* The Dow Jones is up 5.42 percent
* Nasdaq Composite is up 1.25 percent
* The S&P 500 is up 3.62 percent
This is an all-time high for both the Dow Jones and the S&P 500.
A few hours earlier came perhaps the most anticipated news of this year. The US pharmaceutical giant Pfizer and the German Biontech announced that the results of the first stage of phase 3 trials of their common coronary vaccine are clear and the numbers are encouraging.
A study in which companies have compared cases of infection among 43,538 participants, where approximately half have received the vaccine, while the other half have received a placebo variant, shows that the vaccine can be more than 90 percent effective . This is much better than expected and contributes to a sharp rise in equity markets and oil prices on Monday.
US President Donald Trump is on Twitter looking forward to the vaccine in large print.
During the election campaign, Trump kept promising that a vaccine would arrive before the election. Now it can come right after losing the election.
Aerial, cruise and cinema elevator
Shares of Pfizer were up 12 percent and Biontech 20 percent at the opening of the stock market.
Naturally, aircraft stocks also get a solid boost in the news. Both United Airlines, American Airlines and Delta Airlines are steep. Movie theater companies and cruise stocks have also risen, companies that have struggled since the corona crisis began in mid-March.
But the mood on Wall Street was already good before the vaccine news arrived. The fact that Joe Biden was named the new president of the United States on Saturday afternoon is also well received by the markets.
Portfolio manager Olav Chen of Storebrand Asset Management agrees that the novelty of the vaccine is a long-awaited novelty.
– We have now overcome the uncertainty surrounding the elections in the United States, although Trump has not formally resigned. That “incident risk” is gone and then comes the novelty of the vaccine today. This is clearly good news, expected to come, he tells DN.
– Although it remains to be seen what control in the Senate will look like, the markets react as if the Republicans continue to occupy this part of Congress. If true, taxes are likely to remain at current low levels and the key policy rate will remain close to zero for a long time, FXTM chief strategist Hussein Sayed wrote in a note Monday, according to Marketwatch.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content may only be done with written permission or as permitted by law. For more terms, see here.
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