The report of an approaching vaccine has raised the hopes of investors in the Corona crisis. On day two after Biontech announced the success, the excitement subsided a little. Lockdown profiteers like online traders and gold remain under pressure.
After the price fireworks at the beginning of the week, equity investors took it easy and took some profits. The U.S. Standard Values Index Dow Jones closed on Tuesday 0.9 percent higher to 29,420 points, having posted the biggest daily gain in almost half a year at the beginning of the week.
The technology-heavy one Nasdaq on the other hand, fell 1.4 percent to 11,553 points. The broad one S&P 500 lost 0.1 percent to 3545 points.
Lockdown profiteers under pressure
The beneficiaries of the pandemic-related restrictions of the past few months were again under selling pressure. The stocks of the online retailer Amazon or the video conferencing provider zoom lost up to almost nine percent.
Compared to the turn of the year, the papers were still around 70 and 500 percent up. The current price downturn could last longer, predicted Art Hogan, chief investment strategist at asset manager National Securities. The assumption is based "on the fact that we have indications that the situation is improving".
On Monday the Mainz company had Biontech and their US partner Pfizer With encouraging test results, hopes for the rapid approval of their coronavirus vaccine were stoked and a fireworks display on stock exchanges around the world. While some Pfizer investors cashed in, Biontech expanded their profits, rising more than seven percent.
Other pharmaceutical giants in the plus
In parallel, the titles moved from Curevac by over twelve percent after the Tübingen-based company presented detailed results of a clinical study for its corona vaccine. The pharmaceutical company's papers were also in demand Eli Lilly, which rose by almost three percent. The U.S. health authority granted emergency approval to a drug for the treatment of corona patients. This reduces the chances of success of the drug candidate from Regeneron, commented the analysts of the brokerage house SVB Leerink. Eli Lilly's rival shares fell 1.5 percent.
The results of the effectiveness tests are welcome news, said investment strategist Michael Hewson from brokerage firm CMC Markets. "But a swallow doesn't make a summer." The analysts at ING Bank also urged prudence. The approval of the active ingredient is not yet dry. In addition, it will take a long time for consumers to feel confident enough to resume their habits.
Oil wins, gold recovers
At the Oil market Nevertheless, the optimists remained in the majority. The US variety WTI rose two percent to $ 41.09 per barrel. "A viable vaccine is a turning point for oil – a market whose demand is half determined by the transportation of people and goods," said JPMorgan analysts.
At the same time recovered gold some of his most recent price slide. "Apparently investors have realized that the central banks will continue to print money and that the virus crisis has not yet been overcome," said Carlo Alberto De Casa, chief analyst at the brokerage firm ActivTrades. The precious metal, which is also used to protect against inflation, rose by one percent to $ 1,880 per troy ounce.
The stocks of Boeing continued to soar and increased in price by a good five percent. According to an insider, the 737 MAX machines, which were banned from flying for around a year after several crashes, could start again next week.
.