Stocks Surge on Vaccine Trials and Biden Win

The DOW hit an Intraday High on Vaccine Results, Biden Win

The Dow Jones Industrial Average climbed almost 1200 points, or 4.2%, in midday trading. The blue-chip index set its first intraday record since February and came within about 70 points of the 30000 mark before paring some gains. The S&P 500 surged 2.9%, also putting it in record territory.

90% Effective in Latest Trials 

Pfizer reports its Covid-19 Vaccine is 90% Effective in Latest Trials

A vaccine developed by Pfizer Inc. (PFE) and partner BioNTech SE (BNTX) 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.

Pfizer said it remained on track to collect at least two months of safety data during the third week of November and could file for an emergency authorization shortly thereafter.

Pfizer and BioNTech’s vaccine uses a new and unproven technology, known as mRNA, short for the molecular couriers called messenger RNA that carry genetic instructions to cells.

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Related Tweets 

As of now, storage is the main concern. "Their vax is going to be the hardest to use — must be shipped/stored at -70C, which limits where it can be used."

I suggest any storage-related problems will easily be solved. 

This is extremely welcome news.

Congratulations to Pfizer (PFE) and partner BioNTech SE (BNTX).

Mish

Vaccine Shortages and Problems With Moderna

There are huge shortages of Pfizer's vaccine and California halted Moderna shots.