FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., October 2, 2020. REUTERS/Carlo Allegri/File Photoannounced on Monday it was pausing clinical trials of a COVID-19 vaccine candidate due to an unexplained illness in a study participant. The delay weighed on the company's shares, even after its beat-and-raise earnings report. Its shares were last off 2.5%.
“It shows once again that the vaccine is still far away, and it’s a good thing that so many pharmaceutical companies are working on it,” said Oliver Pursche, president of Bronson Meadows Capital Management in Fairfield, Connecticut. “JNJ looked promising just a few weeks ago and now here’s a complete turnaround.”
Hopes for the passage of a new coronavirus relief package faded as U.S. House Speaker Nancy Pelosi rejected the $1.8 trillion coronavirus relief proposal from the White House, saying it “falls significantly short of what this pandemic and deep recession demand.” Meanwhile, millions of Americans struggle to make ends meet nearly two-and-a-half months after emergency unemployment assistance expired.
But, but, but..... the orange turd tweeted that the the stock market was good...
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