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The Dow Jones rose more than 100 points today, continuing its rally from yesterday’s high. Responds to advances in vaccine development against COVID-19.
At 9:52 p.m. (Thai time), the Dow Jones industrial average stood at 29,260.94 points, 102.97 positive points, or 0.35%.
The Dow closed more than 800 points last night. It achieved its biggest single-day success since June 5, after Pfizer Inc., the largest pharmaceutical company in the United States, and the German pharmaceutical company BioNTech. Announcing Major Progress in COVID-19 Vaccine Trials The news gave investors hope that the economy will recover from the COVID-19 crisis.
News of the advances in the production of this type of vaccines. As a result, inventories that have benefited from the opening of economies such as airlines, retailers and cruise ships. Both were up today, but Zoom Video Communications shares AND tech stocks that once benefited from people working from home during the COVID-19 epidemic. Different from each other
Pfizer and BioNTech said the results indicate the vaccine against the COVID-19 virus. Which the two companies developed together is more than 90% effective in virus protection for people who have never been infected before. And the company will register the vaccine with the US Food and Drug Administration (FDA) next week. And 50 million doses of the vaccine are expected to be produced this year and 1.3 billion doses next.
Ryan Richardson, BioNTech’s chief strategy officer, said the company would charge the vaccine below market price. And it will set different prices for each country and region. Give countries around the world access to the vaccine. But it would be worth the financial risk of investing in vaccine development.
The stock market was also boosted by Joe Biden’s victory in the US presidential election on Saturday. This has caused investors to worry about the uncertainty of the results of the US presidential elections. Biden promised to smooth the transfer of power. And it will promote measures to control the spread of the COVID-19 virus as well as other important measures
Looking at the latest congressional results, Democrats are likely to retain the majority in the US House of Representatives. While the race for the Senate remains uncertain. Georgia’s senatorial election is likely to be decided in a runoff in January.
If Mr. Biden wins an official presidential election AND the Democrats can have a full majority in Congress in both the Senate and the US House of Representatives. It will make the conduction of the economic stimulus run smoothly After being blocked under President Donald Trump.
But if Republicans continue to dominate the majority in the Senate it will also have a positive effect on the stock market. This would prevent Biden’s corporate income tax increase policy from being approved by Congress. This allows listed companies to continue to benefit from the Trump administration’s tax cut policy.
In addition, such a balance of power This will reduce the likelihood that the Biden government will issue regulatory measures for financial institutions. And companies of the American technology group
