- Wall Street’s main indexes rose on Monday as hopes of a COVID-19 vaccine and data showing a rapid expansion in monthly business activity fueled bets of a quicker economic recovery from a pandemic-driven recession.
“November has been that month when we were finally convinced that there is light at the end of the tunnel today is another one of those days,” said Art Hogan, chief market strategist at National Securities in New York. “The market has moved higher with confidence that as we get better at treating and preventing this virus, economic activity will likely follow in the wake of that.”
Global equity markets had earlier received a boost as AstraZeneca Plc became the latest major drugmaker to say its COVID-19 vaccine could be around 90% effective, although its shares fell 3.8% as some traders perceived the efficacy data as disappointing compared with rivals. Evidence of high efficacy rates in experimental vaccines had lifted the S&P 500 to a record high earlier this month, although gains have since been capped by new coronavirus-led restrictions to contain a surge in infections.
Trying to be positive of a miracle covid19 vaccine, life experience tells me a different scenario will play out. Too many foolish politicians approving rush to market vaccines and too much corporate greed involved and the media controlling the hyped up narrative.
wow
funny how a mentally ill lame duck president doesn't effect the markets at all...
no it didnt
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