Wall Street starts optimistically: Third vaccine hope gives a boost

Third vaccine, third glimmer of hope: after Biontech and Moderna, Astrazeneca is also presenting encouraging study results for its corona vaccine and is creating optimism on Wall Street – just like the latest economic data.

On the third "vaccine Monday" in a row, US investors are venturing out of cover in the hope that the corona pandemic will end soon. The Dow Jones index of standard values ​​rose 1.1 percent on Monday to 29,591 points. The S&P 500 was up 0.6 percent and the Nasdaq composite was down half a point.

"The vaccine is the main driver of general optimism," said Scott Brown, chief economist at Raymond James. "But it usually goes back and forth a bit because this week is still the holiday."

S&P 500 3,579.00

After Biontech (plus 2.3 percent) and Pfizer (minus 0.5 percent) and Moderna (plus 3.5 percent), the British pharmaceutical company Astrazeneca presented encouraging study results on its corona vaccine on Monday. In the USA, the supervisory authority could also give the green light for the delivery of the vaccine from Biontech and Pfizer as early as mid-December. In addition, the US authorities had given the biotechnology company Regeneron emergency approval for its agent against corona infections.

"This November is the month we were finally convinced there was light at the end of the tunnel," said Art Hogan, chief marketing strategist at National Securities.

The latest economic data also created a good mood among stock exchange traders. In November, for example, the US economy surprisingly achieved the fastest rate of growth in more than five years, according to the IHS Markit purchasing managers' index.

Boeing is gaining ground, Apple is giving in

Chevron
Chevron 75.15

Accordingly, the shares of cyclical companies were in demand. The barometer for energy values ​​soared by more than four percent; in the Dow, the chevron papers were among the biggest winners with a plus of 3.9 percent. They also benefited from the higher oil price: The price for a barrel of the US WTI variety rose by 1.5 percent to $ 43.06, while North Sea oil of the Brent variety rose 2.4 percent to $ 46.06. For the first time since the beginning of March, the Brent price climbed back above the $ 46 mark.

Industrial stocks were also in demand, including the shares of the aircraft manufacturer Boeing with a plus of 2.8 percent. On the other hand, things went down for IT values ​​and communication service providers. Investors turned their backs on the tech companies that have been in particular demand in the months since the beginning of the pandemic. Apple titles fell 2.9 percent.

In terms of individual values, the Tesla shares stood out: The shares of the electric car manufacturer climbed 6.5 percent to a record high. Wedbush analyst Dan Ives saw a turning point in demand for electric vehicles and raised his price target for the stocks significantly. Market capitalization, meanwhile, was approaching $ 500 billion. Tesla will also be a member of the S&P 500 from next month. In Frankfurt, the Dax was 0.1 percent weaker at 13,126.27 points.

. (tagsToTranslate) Tesla Motors (t) Wall Street (t) Biontech (t) Pfizer (t) Stock Prices (t) Dow Jones (t) Oil Price (t) Chevron (t) Boeing