The success message for a corona vaccine caused euphoria on Wall Street. The two most important indices jump to new highs shortly after the start of trading. The Biontech share is also rising, and it is also going up for companies that have suffered the most from the Corona crisis.
The first encouraging data from a pivotal study on a corona vaccine is also fueling U.S. stock exchanges. Hopes that an end to the pandemic was now in sight made Wall Street investors forget the difficult months since March, when the pathogen hit the western world and plunged the economy into the worst turmoil since World War II.
"This news is extremely important and should give the market confidence that Pfizer's vaccine candidate is a breakthrough in achieving herd immunity sometime in the coming year," said Robin Winkler, strategist at Deutsche Bank.
The Dow Jones Index the standard value closed three percent higher at 29,157 points. The technology-heavy one Nasdaq on the other hand, fell 1.5 percent to 11,713 points. The broad one S&P 500 gained 1.2 percent to 3550 points.
Pfizer and Biontech announced that they would apply for an emergency approval in the US in November, if data on the safety of the vaccine are also available. The companies put the effectiveness at 90 percent. Pfizer shares gained almost eight percent, the US-listed Biontech stocks almost 14 percent. "Questions remain about how quickly Pfizer can ship the vaccine worldwide," said Mike Bailex, chief analyst at FBB Capital Partners. The designated US President Joe Biden also dampened expectations: the USA was facing a "very dark winter". He called on Americans to wear mouth and nose protection.
Corona losers are catching up
Nevertheless, the industries particularly suffering from the pandemic are now hoping to survive the crisis. Stocks of airlines like American Airlines or United and from cruise lines like Carnival or Norwegian shot up by clearly double-digit percentages, Carnival around 39 percent. The industry is suffering massively from the restrictions in the fight against the pathogen after major corona outbreaks on cruise ships at the beginning of the pandemic.
Boeing were among the top winners in the Dow with a premium of nearly 14 percent. Many airlines canceled orders for new aircraft during the crisis. In return, the technology stocks that have traded high in the past few months went down. Stocks of companies like the streaming service Netflix, the online retailer Amazon, the video conferencing provider zoom or the fitness equipment manufacturer Pelothon collapsed by up to 20 percent, which pushed the Nasdaq into the red. The closed in Frankfurt Dax 4.9 percent firmer at 13,095 points, making it his best day since May.
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