Pfizer vaccine and retail sales fuel Wall Street
Stock exchanges on the other side of the Atlantic opened upwards, driven by expectations of a quick vaccine from Pfizer and good economic data.
The Dow Jones continues to add 0.47% to 28,626.94 points and the Standard & Poor’s 500 depreciates 0.44% to 3,498.75 points.
The technological Nasdaq Composite yields 0.42% to 11,763.50 points.
After three consecutive sessions of losses, the main Wall Street indices are now trading in the green, supported mainly by the announcement by the pharmaceutical company Pfizer that it will be able to apply for the emergency use of its candidate for vaccine against covid-19 as of November.
The vaccine is being developed with the German BioBTech and it is expected that in the third week of November it will reach a safety milestone that allows authorization to be asked to proceed.
Pfizer continues to earn 1.37% for $ 37.05.
Driving the positive movement are also the retail sales data in September, which grew more than expected.
Despite today’s optimism, there are still pressure factors. Investors remain concerned that there is still no agreement on the horizon for a new stimulus package for the US economy and many European countries are imposing new restrictions in an attempt to halt the spread of covid-19 – which means that if they fear a strong economic impact, then many traders are choosing to move away from higher-risk assets, such as stocks, and prefer traditional safe-haven assets, such as gold, the dollar and bonds.