Dow is running well on vaccine heaps; Tesla rushes to record | Financial

The Dow Jones index ended 1.1 percent higher at 29,593 points. The broad-based S&P 500 gained 0.6 percent to 3577 points and tech exchange Nasdaq was put 0.2 percent higher, at 11,880 points.

Pharmaceuticals Pfizer and Moderna indicated that they could start an vaccination program quickly. Their vaccines are about to be approved. The British-Swedish AstraZeneca also came with encouraging reports about a corona vaccine.

Meanwhile, the number of coronavirus infections continues to rise sharply, also in the United States. On Sunday alone, 84,000 hospitalizations were added in the US. The question is whether Americans can celebrate Thanksgiving with friends and family later this week, partly because of the travel restrictions that apply.

Pfizer was down 0.5 percent and Moderna was up 3.5 percent. The shares of companies in sectors where the corona crisis has hit mercilessly, are also on the rise. Airlines such as Delta Air Lines, American Airlines and Southwest Airlines increased the thickness to 8.2 percent, hotel chains such as Hilton and Marriott both increased by 3.2 percent.

Energy companies also benefit, as has already happened in Europe with companies such as Shell, Total and BP. ExxonMobil and Chevron were upgraded to 6.6. Shares of oil and gas producers are also being helped by increased oil prices. US oil became 1.1 percent more expensive at $ 42.87 a barrel. Brent oil rose 1.9 percent in price and changes hands at $ 45.81 a barrel. During the day, Brent oil reached its highest level since it fell sharply in March.

Pharmaceutical Merck (minus 0.2 percent) is also in the spotlight. The company announced that it will pay $ 425 million for the acquisition of biotech company Oncolmmune, which will also allow Merck to plunge into the corona race.

Pharmaceutical company Schrödinger also made a price jump of 11.6 percent. The company announced an agreement with industry peer Bristol-Myers-Squibb that could generate up to $ 2.7 billion in milestone payments.

Furthermore, figures from the British market research Markit indicated that activity in both the US manufacturing and services sectors is picking up strongly. Economists had expected growth to level off due to the ongoing corona outbreak in large parts of the US.

Tesla to record

Tesla showed a new peak of $ 521.85 with a plus of 6.6%. The electric car maker received fan mail from investment company Wedbush who raised its base case price target from $ 500 to $ 560 due to an expected acceleration in demand for, among others, the market leader’s cars. The recent entry into the S & P500 and optimism about the sustainable profit path are also highlighted.

Apple lost 3%. The smartphone manufacturer is less popular with investors due to the promising vaccine news.

The euro was worth $ 1.1844, compared to $ 1.1825 at the closing bell in Europe.


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