Wall Street broke a new record driven by Moderna’s announcement on the effectiveness of its vaccine

United Airlines planes at Newark airport, NJ (REUTERS / Chris Helgren / file)

News about Moderna’s coronavirus vaccine, That resulted be 94.5% effective on early phase 3 results, gave new impetus to stock markets, which had already finished last week at a record level following a similar announcement from the Pfizer laboratory.

At the close of the exchange day, both the Dow Jones and the S&P 500 registered the highest figures in their history. The first reported a rise of 1.6 percent (470 points) to end the day with 29,950, extremely close to the symbolic barrier of 30,000 points that has never been broken. The second, meanwhile, rose 1.2 percent and finished with 3,626 points.

The index Nasdaq, rich in tech companies, it reversed the day’s losses and closed 0.8 percent higher. The mixed results reflect how several of the winners of the pandemic begin to become losers as vaccine progress the end of restrictions is near Y the return to normality.

In Wall Street, Moderna shot up nearly 10 percent. Together with the pharmacist, airlines and cruise companies, referents of the perspectives of travel industry, soared in pre-market prices. United Airlines rose 5.2 percent and Carnival advanced 9.5 percent and Norwegian Cruise Line 6 percent.

Conversely, stocks that have prospered during lockdowns fell before the market opened. These include Netflix and Zoom.

A 3D print of the Zoom logo.  April 12, 2020. REUTERS / Dado Ruvic / Illustration

A 3D print of the Zoom logo. April 12, 2020. REUTERS / Dado Ruvic / Illustration

A similar phenomenon had occurred after the diffusion of the Pfizer vaccine results.

“There is a fundamental reason why stocks are rising, which is a recovery that seems pretty solid, the prospect of more stimulus and also the vaccine,” Luca Paolini, chief strategist at Pictet Asset Management, told the Wall Street Journal.

Although doubts remained about the efficacy and distribution of a vaccine, and investors may be too exuberant in the short term, “For next year, everything seems to be really moving in the right direction”, Paolini added.


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