Stocks roar into risk-on day with news that second COVID vaccine found to be 94.5% effective

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Global stocks are trading at an all\u002Dtime high

Dow e-minis were up 488 points, or 1.66 per cent, and S&P 500 e-minis were up 39.5 points, or 1.1 per cent. Nasdaq 100 e-minis erased early gains to trade down 5.5 points, or 0.05 per cent.

Asian equities jumped after a slew of countries on Sunday signed the world’s largest regional free-trade agreement, encompassing nearly a third of the globe’s population and gross domestic product. Meanwhile, Australia’s stock exchange was hit by a software issue that forced it to close for most of Monday’s session. Oil pushed higher.Article content continued

Global stocks are trading at an all-time high after optimism about a vaccine last week drove a rotation into value and cyclical sectors, and out of more defensive industries. Chinese data this week showed the country’s economic recovery strengthened in October, with consumer spending picking up steadily and industrial production and investment rising faster than expected.

Still, concerns about a sustainable economic recovery persist amid a flare-up in virus cases around the world. The pandemic continues to escalate in regions such as Europe and the U.S. American coronavirus cases have topped 11 million. Germany must live with “considerable restrictions” against the spread of COVID-19 for at least the next four to five months, its economy minister said.

Meanwhile, President Donald Trump plans several new hard-line moves against China in the remaining weeks of his term, according to a senior administration official. Actions under consideration include protecting U.S. technology from exploitation by China’s military, countering illegal fishing and more sanctions against Communist Party officials or institutions causing harm in Hong Kong or the far western region of Xinjiang, the official said.

 

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Well, of course it did. Do they have the press release ready for tomorrow that says the results have been ‘inconclusive’? Which BigPharma execs are going to be millionaires today? Stop the bullshit. Get the vaccine out and into the bloodstreams of people. Then I will believe you.

Another stock to short today. Investors who buy into snake oil news like this are such chumps. Moderna and Pfizer's CEO and other senior shareholders love ya though.

For a virus 99.97% survive...

Demand has become ‘buy the rumour and sell the fact’.

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