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On Monday, there was a party on Wall Street after a corona vaccine developed by Pfizer and BioNTech was 90 percent effective in preventing COVID-19 infections.
“This is a great day for science and humanity,” Pfizer CEO Albert Bourla said in a press release.
The companies hope to be able to offer 50 million doses of vaccines by 2020 and produce up to 1.3 billion doses in 2021. They are now working on preparing the necessary data before submitting an application to the FDA in late November.
As a result, Pfizer and BioNTech increased the novelty of the vaccine and finished with 7.7 and 13.9 percent, respectively.
Sector rotation?
On Monday, there was a particular boost in the industrial Dow Jones, which closed at 29,157.97 points after a rise of nearly 3 percent. Thus, the February 12 record was about to be broken.
The broad S&P 500 index rose 1.2 percent, while the high-tech Nasdaq closed 1.5 percent lower.
– If you can look ahead and say that we are returning to a normal life, many of the cheap stocks may look attractive. This could be the beginning of a sector turnover of value and small-cap stocks that we’ve been talking about for a long time, strategist Ed Keon tells CNBC.
– The rally is justifiable
Sectors such as energy, tourism and finance also had the wind in their sails on Monday. Recently, these industries have been defeated.
CNBC writes that investors are now opting out of growth stocks and “stay-at-home” stocks like Netflix and Zoom. These fell 8.6 and 17.4 percent, respectively.
– I think the rally is justified. I think we should start a new discussion and this is how America will look after the corona pandemic, says CNBC’s “Mad Money” host Jim Cramer.
Carnival Corp. rose as much as 33.6 percent, while Southwest Airlines and the Walt Disney Company were up 12.2 and 12.6 percent, respectively.
Big banks like JPMorgan Chase, Bank of America, Citigroup and Wells Fargo also rose above 11 percent.
Fear, gold, oil and interest
The VIX index, popularly known as the fear index, rose 3.1 percent to 25.64.
The price of gold fell 4.5 percent and an ounce at the close stood at $ 1,864.80.
North Sea oil rose 6.3 percent to $ 42.16 a barrel. grease.
The 3-month interest rate rose 0.2 basis points to 0.096 percent.
The 2-year-old child’s interest rate rose 2.2 basis points to 0.177 percent.
The 10-year interest rate rose 10.7 basis points to 0.927 percent.
The 30-year interest rate rose 12 basis points to 1,718 percent.
