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On Monday (9) Pfizer announced that its new crown vaccine is 90% effective, the US stock market Dow Jones opened higher by more than 1,600 points. Jim Cramer, a well-known host of foreign financial shows, said that suddenly, we have hope.
Pfizer (PFE-USA) announced that clinical trial results of the new corona vaccine developed by BioNTech show that it can prevent at least 90% of people from becoming infected. Pfizer plans to obtain drug safety data in the third week of November and submit it to an Emergency Use Authorization Request.
Former FDA Commissioner Scott Gottlieb said the vaccine can be used in limited quantities by the end of December and will be widely used in the third quarter of 2021. Pfizer and BioNTech expect to produce up to 50 million doses of vaccines this year, which will increase to 1.3 billion doses by the end of 2021.
Jim Cramer, a well-known host of foreign financial shows, said the importance of this breakthrough to people’s lives and the stock market has made investors very excited.
According to statistics from Johns Hopkins University in the United States, as of last Sunday, the average number of confirmed COVID-19 cases on the 7th in the United States reached 108,736, setting a new record again and breaking the previous (day) for ten consecutive days. High record.
Jim Cramer said: “If you think about our situation last week, we think there is almost no possibility of stopping the epidemic. Now all of a sudden we have hope.”
Jim Cramer mentioned: “At the time we thought the epidemic was out of control. In some states, we have lost the ability to control the epidemic. We really (seem) can’t do anything. People have been talking about the possibility of a nationwide lockdown or blockade under Biden’s leadership. This situation will end. Ruihui is not a company that has never succeeded. It is one of the largest companies in the world. People’s cynicism against science is ruthless, but some people think science can never solve the epidemic that is wrong. “
Jim Cramer analyzed: “I think the rally in US equities is reasonable. Now Wall Street will start discussing new issues. What will the market be like after the epidemic?”
Jim Cramer said that while the vaccine news is positive, Americans still need Congress to introduce a new stimulus bill. Some small and medium-sized companies have suffered and I think they should be compensated.
Jim Cramer believes, “Under the dual benefits of vaccines and stimulus bills, I think this is why the market is really bullish. Why don’t we celebrate?
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