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On the first day of operations after US Democratic candidate Biden won the US presidential election, Ruihui announced that his new crown vaccine was 90% effective. On Monday (9), US stocks opened up financial, aviation and leisure travel. Stocks rose and tech stocks and those related to the housing economy fell into the abyss.
Dow Jones rose to 1600 points in the morning’s opening second, setting a new intraday session record. Following the call of US Senate Majority Leader Mitch McConnell, only small stimulus bills will be passed before the end of this year. It closed with more than 800 points, the biggest gain in a day since June 5.
The global epidemic of new corona pneumonia (COVID-19) continues to have a fever. Before the deadline, according to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 50.7 million and the number of deaths has exceeded 1.26 million .
Just 10 days after the cumulative number of confirmed diagnoses in the United States hit the 9 million mark, there have been more than 10 million cases so far and the cumulative number of deaths has exceeded 237,000. Biden announced the convening of an epidemic response task force and called on Americans to wear masks. Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota, USA, must understand that we are about to enter the new crown hell.
Monday (9) the performance of the four main US stock indices:
- The Dow Jones Index rose 834.24 points, or 2.95%, to close at 29,157.64 points.
- The S&P 500 Index rose 40.29 points, or 1.15%, to close at 3,549.73 points.
- The Nasdaq index fell 181.45 points, or 1.53%, to close at 11,713.78 points.
- The Philadelphia Semiconductor Index fell 31.68 points, or 1.25%, to close at 2,497.59 points.
The five kings of science and technology almost fell: Apple (AAPL-US) fell 2.00%; Facebook (FB-US) fell 4.99%; Alphabet (GOOGL-US) was up 0.096%; Amazon (AMZN-US) fell 5.06%; Microsoft (MSFT-US) fell 2.38%.
The 30 Dow Jones stocks were led by American Express. American Express (AXP-US) was up 21.39%; Boeing (BA-US) rose 13.71%; JPMorgan Chase (JPM-US) rose 13.54%; Disney (DIS-US) was up 11.87%; Chevron (CVX-US) Increased 11.60%.
The shares of half of the components of the fee received more minimums. AMD (AMD-US) fell 3.21%; Intel (INTC-US) rose 0.46%; NVIDIA (NVDA-US) fell 6.40%; Qualcomm (QCOM-US) fell 1.66%; Micron (MU-US) was up 1.45%.
Taiwan ADR stock rose more and fell less. TSMC ADR (TSM-US) fell 2.59%; ASE ADR (ASX-US) rose 2.70%; UMC ADR (UMC-US) was up 6.37%; Chunghwa Telecom ADR (CHT-US) was up 0.10%.
Featured Stock News
After the new crown vaccine developed by Pfizer (PFE-US) and its partner BioNTech (BNTX-US) was 90% effective, Wall Street was ecstatic and the two companies were up 7.69% and 13 , 91% respectively. Because this is so much better than the market generally expects, Fauci, a public health expert in the United States, has previously stated that the new corona vaccine developed by scientists may end up with only 50% to 60% of the effect.
With the impact of the new corona epidemic, AMC Entertainment (AMC-US), the largest theater chain in the United States, is on the brink of bankruptcy. The news of the Ruihui vaccine may get people back in theaters. AMC Entertainment’s share price soared 51.41% on Monday.
The news of the vaccine also pushed up the stock prices of American Airlines and major cruise operators. United Airlines (UAL-US) rose 19.15%; American Airlines (AAL-US) rose 15.18%; Delta Airlines (DAL-US) was up 17.03%; Southwest Airlines (LUV-US) was up 9.70%. Carnival Cruise Line (CCL-US) and Norwegian Cruise Line (NCLH-US) increased more than 39.29% and 26.75%.
Benefiting from the disastrous drop in stocks related to the housing economy, ZOOM (ZM-US) fell 17.37% and Amazon fell 5.06%.
Yields on 10-year US Treasuries soared, and bank stocks rose simultaneously. Shares of banks such as JPMorgan Chase (JPM-US) and Citi (C-US) rose 13.54% and 11.49%.
The US Food and Drug Administration (FDA) voted against Biogen’s new drug “aducanumab” (BIIB-US). Because Biogen didn’t have enough evidence that the experimental drug slowed down brain-damaging diseases, the company’s stock price plummeted 28.17% on Monday.
Wall Street Analysis
QMA chief market strategist Ed Keon said that from an investment perspective, the biggest impact of the vaccine news is that you can eventually see small-cap and value turns, which are happening today.
Gus Faucher, chief economist at PNC Financial, said: “From a short-term and long-term perspective, the news from Ruihui is good news.” Some economists warned that the rise in confirmed diagnoses will continue to put pressure on the economy in the winter, but monetary stimulus measures should help.
Casual food stocks have recovered. Tom Martin, Senior Portfolio Manager at GLOBALT, said that when it comes to the 90% effectiveness of the Ruihui vaccine, it’s a bit unbelievable, but you can begin to imagine that at some point in the future, life returned to normal. When people go out, they don’t need to wear masks and the economy will reopen. This is why we see badly affected stocks rebound.
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