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Home / Business / Dow Jones gained 1,500 points after news of Pfizer’s COVID-19 vaccine

Dow Jones gained 1,500 points after news of Pfizer’s COVID-19 vaccine



Stock futures built on Monday’s early gains, alongside oil, following positive news from Pfizer about the COVID-19 vaccine and after Joe Biden was elected president over the weekend.

FUTURE STOCKS

The Dow Jones increased by more than 1,500 points, up 5.3%. The S&P 500 also gained 3.7 percent at the start of the session, while the tech-heavy Nasdaq Composite gained 1

percent.

The increase will likely bring the US average closer to regaining record levels.

Form code Protect Final Change Change %
Me: DJI DOW JONES AVERAGES 28323.4 -66.78 -0.24%
SP500 S&P 500 3509.44 -1.01 -0.03%
Me: COMP NASDAQ Composite Index 11895,229592 +4.30 + 0.04%

UPDATE COVID-19

Traders are reacting positively to the news that Pfizer and BioNTech’s COVID-19 vaccines have proven 90% effective in the first 94 patients it is tested. Stocks go higher in the pre-exchange market. While Moderna, also working on vaccines, is in a slump.

Form code Protect Final Change Change %
PFE PFIZER INC. 36.40 +0.01 + 0.03%
BNTX BIONTECH 92.00 0.00 0.00%
MRNA MODERNA INC. 72.45 +0.97 + 1.36%

“Today is a wonderful day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides preliminary evidence of the vaccine’s ability to prevent COVID-19, ”said Pfizer CEO and President, PhD Albert Bourla, said in a statement. “We are hitting this milestone in our vaccine development program at a time when the world needs it most with record-setting infection rates, hospitals nearing capacity and The economy is struggling to reopen. With today’s news, we are taking one step closer in providing people around the world with a much-needed breakthrough to help end this global health crisis. “

This is a milestone in the fight against a virus that has infected more than 50 million people globally, leading to more than 1.2 million deaths.

President Trump, in a tweet, celebrated the development.

MEMORY OIL ON VACCINE NEWS

Oil also rebounded above $ 40 a barrel on vaccine hopes.

Form code Protect Final Change Change %
USE US OIL FUND 26.47 -0.69 -2.54%

FINISHING STOCKS MATCHED AS S&P HAVE BEEN BEST IN THE WEEK AFTER THE 1932 ELECTION

The news comes after Joe Biden and Kamala Harris were elected president and Vice President respectively, after several news outlets, including Fox News, predicted campaign Biden had won the state of Nevada. and the Commonwealth of Pennsylvania, which gave them 270 electoral votes.

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INCOME BARRAGE

In terms of earnings, McDonald’s said third-quarter earnings were better than expected, with sales at similar US stores up 4.6 percent, thanks to a number of new initiatives.

Form code Protect Final Change Change %
MCD MCDONALD’S CORP. 216.56 +0.25 + 0.12%

Stocks higher in pre-market trading.

Form code Protect Final Change Change %
OXY SUCCESSFULL OIL & GAS JOINT STOCK COMPANY 10.01 -0.46 -4.39%
SPG SIMON PROPERTY GROUP INC. 61.86 -1.61 -2.54%
FOLLOW AFTER THIT INC. 156.86 -0.18 -0.11%

Over the weekend, Warren Buffett’s Berkshire Hathaway said its third-quarter results were negatively affected by the pandemic, even as the company’s portfolio surged.

Form code Protect Final Change Change %
BRKB na na na na

On Monday, traders will see quarterly results from Occidental Petroleum, Simon Property Group and Beyond Meat, among others.

Nearly nine out of 10 S&P 500 companies reported that third-quarter earnings and revenue exceeded forecasts.

OTHER MARKETS ARE ALSO HIGHER

In other commodities, gold continued to go up above 1,959 USD / ounce.

European indices were also higher on Monday, with the STOXX Europe 600 index up 1.3%. Similar increases were seen in Germany’s DAX, France’s CAC 40 and Britain’s FTSE 100.

The stock had its best post-election week since 1932, tracked by the Dow Jones Market Data Group, up 7.23%, the second best on record.

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