The exterior of the New York Stock Exchange is seen on Nov. 4, 2020 in New York. Stocks were set to surge after Pfizer said its experimental COVID-19 vaccine was 90% effective and after former Vice President Joe Biden was elected president.The exterior of the New York Stock Exchange is seen on Nov. 4, 2020 in New York. Stocks were set to surge after Pfizer said its experimental COVID-19 vaccine was 90% effective and after former Vice President Joe Biden was elected president.
The Dow Jones Industrial Average was expected to open up more than 1,700 points. The S&P 500 and the Nasdaq were also expected to soar on Monday, leaving all major indexes well placed to test record highs from earlier this year. Airlines and travel-related companies such as Carnival and American Airlines, which have been slammed by the pandemic, were up by double digits in trading before the markets opened.
Other sectors that would directly benefit from improving business activity, such as banks, also gained.The pandemic has led to millions of layoffs and business closures around the world, bringing the global economy to a grinding halt. Recently, cases of the virus have surged again in Europe and the United States, forcing government officials to reimpose lockdowns.
"Even as rising case numbers have triggered modest news restrictions in the U.S. and Europe, the base case remains that vaccines and improved treatment will bring the pandemic under control enough to allow economic activity to recover during the first half of next year," says Christopher Smart, chief global strategist at Barings Investment Institute.
Soar baby soar!
I have a few stocks in the travel industry and I made a nice little bit of pocket change today
WARNING!!! This claim of Joe Biden winning the election is in dispute as voter fraud.
But by all means let’s hear more from pissed off Trumpers in Texas about how “it ain’t fair! I don’t believe it!” 🙄
Even Wall Street is relived and exuberant now that we have a Real President heading for the Oval Office. The FakePresident realdonaldtrump is a lame duck and while still a dangerous beast, his powers are waning and his lies are growing weaker by the day. Congratulations America
Why would the market soar on the news of a candidate who wants to double the Capital Gains Tax which is usually earned in the stock market?
Trump brought DJIA to record highs almost every day for years, and the LameStreamMedia ignored it. Crickets. The market goes up for one day, and they credit Biden for it. You see how this works? He has not even taken office yet and the pyscophantic media already displaying bias.
now if only essentialworker wages went up & stayed up as well then maybe id care how the rich were doing ok the stocks.
Even the DowJones prefers PresidentElectBiden over TrumpOut. I don’t recall it EVER this high within the DonaldTrump years ConcedeTrump ElectionResults2020 ByeByeTrump 2020PresidentialElection ConcedeTrumpGameOver
That Biden Market is booming!!!!🙂🙂🙂
The Dow was up about 1,300 points shortly after the market open, an increase of 4.6%. The S&P 500 rose was up 3.4%. Both indexes set record highs, surpassing the previous milestones hit earlier this year.
NPR has no authority or credibility to call an election. Electoral College votes on 12/14.
Thx for the timing of the vaccine, Joe. You said you’d get it under control. 😉
It has nothing to do with Biden, you faculty staff nerds stay in your own lane.
Wouldn't it make a difference if the vote was actually certified and not just projected by the media? I think Biden is the winner but with so much being contested.
The real reason they are soaring is the Republicans control the Senate will stop the stupid moronic Liberals from passing their agenda of letting all criminals out of prison and promoting hate. Liberals love destruction and they have Lake Street in Minneapolis as success.
NPR, Since the President chose NOT TO SLOW THE SPREAD of COVID19 we now have several different Mutations of the Virus Strain. Exactly what strains of the virus are covered on this vaccine and what strains are not?
I don’t trust the vaccine; however, the Biden-Harris transition team named a group of scientists to a COVID task force. I’m excited to see how they handle and get this pandemic under control.
America is back, baby!
America is back with Joe!
Donald Trump is already trying to take credit for the market, yet in all of his fear-mongering he assured us it would crash. His little trained monkeys still walk around echoing his claims, but when will they finally realize they’ve been had by the biggest con man ever?
Happy Days Are Here Again! A song that came out in 1929 just before the Great Depression was ushered in.
Yay
And let me guess, set to be released Jan 21st...
Careful: The Pfizer announcement was a news brief, not a peer reviewed publication
realDonaldTrump
The headline is wrong and that’s why you guys are all fake news, the market it’s not up because of Biden! The market is up because miraculously, like someone predicted long time ago vaccine is almost here, COVID will be over right after election! 😁
Is Biden curing cancer also?
Maybe it wasn’t a blue wave but a wave of hopeful news and I’ll take it!
Very nice how you slipped in JoeBiden ..Which has nothing to do with it, especially the vaccine
What?! Trump said the stock market would crash if he lost and we'd plunge into the worse depression ever. I guess it's the Ding Dong the Witch is dead rally.
Why didn't I see this coming? Of course. Good God it's going to be nice to regulate tf out of ws.
Can't wait for this bubble to burst. Main street is shutting down and jobs are lost forever while Wall Street continues to play games and make billions.
The Pfizer vaccine is good news, but experts say it won’t be widely available until later next year. Which means we still can’t get “back to normal” for quite some time. My fear is people will “open up” and stop wearing masks prematurely and make things worse in the short term.