Corona pill inspires investors: Wall Street is going strong into the weekend

Corona pill inspires investors
Wall Street is going strong into the weekend

Pfizer’s corona pill is euphoric for US investors. Instead of hoping for a higher vaccination rate, a drug appears to be a quick solution. The papers of Biontech and Moderna are rushing off, but shares of the airlines are booming.

Strong job data and encouraging test results for a Pfizer coronavirus drug have fueled U.S. exchanges. All three selection indices left the market with fresh records. Of the Dow Jones Index closed 0.6 percent higher to 36,327 points. The technology-heavy one Nasdaq advanced 0.2 percent to 15,971 points. The broad one S&P 500 gained 0.4 percent to 4697 points.

In October, 531,000 new jobs outside of agriculture were created in the USA, analysts had only expected 450,000. This provided further evidence, according to traders, that the US economy is picking up momentum early in the fourth quarter. “It confirms that the economy is on the right footing, and there is a chance the Christmas rally could be one of the strongest in the recent past,” said Peter Essele, director of portfolio management at the wealth manager Commonwealth Financial Network.

Pfizer pill: “We love it”

Pfizer 42.19

Investors put study data in a buying mood, according to which a Pfizer-Medicine reduces the likelihood of severe corona courses by 89 percent. The pharmaceutical giant’s stocks jumped nearly eleven percent, while the vaccine maker Moderna and Biontech fell by 16.5 and 20.9 percent, respectively. “This is seen as a game changer,” said a stockbroker. This applies above all to the industries particularly affected by the pandemic restrictions. “It’s a quick and effective solution … when you get a diagnosis, just take the pill and you’re back on the road. The market loves it, the travel and leisure sectors love it, and we love it,” said investment expert Thomas Hayes from asset manager Great Hill Capital.

United Airlines Holdings
United Airlines Holdings 45.54

The shares of American Airlines, United Airlines, delta as well as the cruise line Carnival and Norwegian Cruise rose between 5.7 and 8.3 percent. Titles from other sectors that would benefit from a normalization of public life were also among the winners, including cinema operators such as AMC Entertainment and the theme park operators Disney and Six Flags Entertainment.

An optimistic outlook for the Christmas business helped Canada Goose to strong price gains. The shares of the supplier of high-priced down jackets rose 19.3 percent. Unlike other providers, the company does not expect any significant sales losses due to delivery bottlenecks or shipping restrictions this winter.

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