[Chart courtesy of MarketWatch.com] Moving the markets The futures markets pointed to higher equity prices, as AstraZeneca became the latest competitor in the Covid-19 vaccine creation fest saying its product would be 90% effective. News over the weekend that the first vaccine could be available within weeks after the anticipated FDA approval in mid-December helped the market continue its northerly …
ETF Tracker Newsletter For November 20, 2020
ETF Tracker StatSheet You can view the latest version here. BARFING INTO THE CLOSE [Chart courtesy of MarketWatch.com] Moving the markets An early rally in the Nasdaq ran out of steam late in the session with the index following the Dow and S&P 500 via a sudden swan dive into the red. The usual culprits contributed to the lackluster …
Tech Sector Stages Revival
[Chart courtesy of MarketWatch.com] Moving the markets The tech sector, which had been lagging the major indexes for a few weeks, staged a comeback today, as traders suddenly considered it to be some sort of safety play in the face of mounting Covid-19 incidents. As a result, the Nasdaq outperformed the Dow and S&P 500 by a substantial margin. For …
Losing Support And Dumping Into The Red—No Time For Complacency
[Chart courtesy of MarketWatch.com] Moving the markets The tug-of-war between vaccine giants Pfizer and Moderna shifted into overdrive with the former now besting the latter by pointing to its final analysis, which verified a 95% effective rate vs. Moderna’s previous 92%. I am sure that we have not heard the last of it. The news of that advancement was offset …
Gravity Keeps Markets In Check
[Chart courtesy of MarketWatch.com] Moving the markets The constant vaccine hype ran out of steam today, with concerns turning to rapidly accelerating economic shutdowns coast-to-coast, which for sure will hammer the US economy and others as well. As a result, the markets fizzled, but the pullback, while broad, was modest in scope. After all, a pause after the recent ramp …
Latest Vaccine News Ignites Equities
[Chart courtesy of MarketWatch.com] Moving the markets The futures were again directing the way via an ecstatic “hope” move in the markets with ZH narrating it this way: Last night, when discussing the euphoric surge in Sunday markets, we said that the move is on expectations that the “Moderna covid vaccine may hit as early as tomorrow, and a favorable …