Quote (excellence @ Nov 9 2020 08:32am)
Futures tied to the S&P 500 surged 4%, suggesting that last week’s advance, the strongest since April, will resume after the New York opening bell. Dow Jones Industrial Average futures soared 5.5%, with the Dow poised to open 1,400 points higher. Such an open would push the Dow past its intraday record high from February.
Markets rallied after a vaccine developed by Pfizer Inc. and partner BioNTech SE proved better than expected at protecting people from Covid-19 in a pivotal study, a milestone in the hunt for shots that can stop the global pandemic.
right on schedule :unsure:
Pfizer not the only ones
Quote
A long-awaited coronavirus vaccine could be available in roughly two months, according to drugmaker AstraZeneca, which is developing a treatment.
Markets are forward looking. Even if we have cases spike in the short term they know by spring time vaccine is probable.
You might see a strong rotation into cyclicals. This morning you see financials, industrials and consumer discretionary like Disney mooning while tech is largely flat.