Stocks Soar on Vaccine News

Is there a vaccine miracle? Could be! Pfizer says its vaccine is proving to be 90% effective.

Dr. Anthony Fauci, the government’s top-infectious disease expert, said the results suggesting 90% effectiveness are “just extraordinary,” adding: “Not very many people expected it would be as high as that.”

The market is celebrating. The Dow is up over 1,200 points, or more than 4.3%. The Russell 2000 is up more than 5%. The laggard is the Nasdaq which is up “only” 1.6%.

The Dow hit an intra-day high:

Disney, Ross Stores and Eagle Bank are all up more than 10%. Disney is up 9%.

I’ve never seen a market this divided. All the sectors that had suffered are soaring. Banks and Energy stocks are up 10%, 12%, or even more. Biogen, on the other hand, is down 30%. So are some other “pandemic stocks.” For example, the housing sector isn’t doing so well today.

The cruise stocks are very happy. Carnival is up 36% while Royal Caribbean is up 29%.

Posted by on November 9th, 2020 at 10:51 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.