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The business day after US Democratic candidate Biden won the US presidential election, Pfizer announced that its new crown vaccine was 90% effective. US stocks opened strongly yesterday. Financial, aviation and leisure travel stocks increased, while technology stocks and stocks related to the national economy increased. Falls into the abyss. US equity futures showed volatility on Tuesday.
1. Good News About Vaccines Volatility of US Stock Futures.
As Pfizer (PFE-US) and its German partner BioNTech (BNTX-US) made progress in late-stage vaccine trials, causing the market to rally, US equity futures fluctuated on Tuesday (10) . Dow Jones futures were up 0.85%, S&P 500 futures were up 0.02% and Starck 100 futures were down 1.35%.
According to the results of the final test, among people with no previous signs of infection, the efficacy of the new corona vaccine developed by Pfizer and BioNTech is greater than 90%. If efficacy is confirmed in the final test and safety data is obtained, it will be shipped to the United States in late November. The FDA applied for emergency use authorization.
Driven by the optimism of vaccines, the travel stocks that have suffered from the epidemic have almost increased across the board. However, the legal entity recalled that it will take time for the vaccine to reach worldwide popularity. The market generally expects the travel market to not fully recover until the second half of 2022 or around 2023 at the earliest. In the past, the relevant stocks are still under pressure to lose money this year, and the outlook for next year is temporarily to be expected.
2. The epidemic hits incomes and outpaces the decline in meat
Beyond Meat (BYND) announced its third-quarter post-market financial report on Monday, which was much lower than Wall Street expectations. After the market, it fell more than 22%. On Monday, trading hours were suspended twice due to excessive volatility. It fell 17.73% in pre-market trading on Tuesday.
The company’s global revenue in the third quarter was US $ 94.4 million, an increase of 2.7% over the same period last year, but below analysts’ expectations of US $ 132 million. After deducting some items, the net loss per share was 28 cents, worse than the 5 cents per share that analysts expected.
Worse-than-expected results in the third quarter were primarily affected by low restaurant sales caused by the COVID-19 pandemic and reduced consumer hoarding of supplies. Ethan Brown, CEO of Beyond Meat, noted that this is the first time the company has faced the impact of the epidemic on the breadth and unpredictability of net revenue since the outbreak.
3. The actions of the national economy like Zoom fell
Traders have flocked to tech stocks in recent months because these tech stocks benefit from public home epidemic prevention restrictions such as Zoom (ZM-US) and video software platforms. Peloton (PTON-US), but the effectiveness of the new crown candidate vaccine After more than 90% of the news was announced, investors withdrew from these stocks and headed towards companies that would benefit from the economic restart. Zoom fell 1.62% before the market and Peloton fell 1.11%.
Zoom’s stock price has skyrocketed due to demand for remote communication in this year’s epidemic, but after Pfizer announced that its vaccine can prevent more than 90% of subjects from contracting a new coronary pneumonia, the Zoom’s stock price plummeted.
QMA analyst Ed Keon said that from an investment perspective, the biggest impact of the vaccine news is that stocks will eventually rotate to value stocks and small stocks. “
4. The FAA is expected to lift the Boeing 737 MAX ban in the near future.
Federal Aviation Administration (FAA) Director Steve Dickson said on Monday (9) that the review process for the Boeing (BA-US) 737 MAX aircraft has entered the final stage after adjustments, and is expected to the final evaluation will be completed “in the next few days”. But he did not reveal the specific date. Boeing shares rose 2.87% before the US stock market.
Sources said the FAA can announce the certification results starting Nov. 18 and then lift the grounding ban.
The source said the FAA made this decision because other global regulatory agencies are also closing in to allow the going. Last month, the European Union Aviation Safety Agency (EASA) also affirmed Boeing’s results after flight adjustments.
After FAA approval, the airline must complete the software upgrade and pilot upgrade training. This process requires at least 30 days before the aircraft can return to the sky.
5. The EU will file a formal antitrust suit against Amazon.
The British “Financial Times” cited a report by a person familiar with the matter, saying that anti-EU commissioner Margrethe Vestager, who is in charge of competition matters, will issue a formal antitrust lawsuit against Amazon (AMZN-US ) on Tuesday (10), targeting the company as a retailer The “dual identity” of e-commerce platforms. Shares of Amazon fell 2.15% in early trading of US stocks.
In September 2018, the European Union announced an antitrust investigation against Amazon, accusing the company of obtaining data from third-party sellers and using the data to promote its own products, causing unfair competition in the market.
For a long time, European and American regulatory agencies have continually analyzed Amazon’s business model. In 2018, the German antitrust regulator launched an investigation into Amazon’s European business model. At the time, he pointed to the company’s dual role as a third-party retailer and platform, and focused on whether it abused its market position to set illegal conditions for third-party sellers.
In the face of allegations from various regulatory agencies, Amazon has played down its own doubts about antitrust behavior, pointing out that most retailers have their own brands, and online sales represent only a small part of the overall retail industry.
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