Pfizer COVID-19 Vaccine Results Shoot Market Higher

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Pfizer COVID-19 vaccine results shoot market higher. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:

Dow futures rise 150 points after Biden wins presidency as post-election rally continues

Stocks were set to continue their big post-election rally as futures rose in overnight trading on Sunday. The gains came as Democrat Joe Biden defeated incumbent Donald Trump in the U.S. presidential race to become president elect, according to NBC projections.

The S&P 500 rose +1.17% today. Sector advancers led decliners 7 to 4 as shown below in the sector graph. Gains ranged from +14.28% to less than 1%. 4 sectors lost less than 1%, check the sector graph below for specifics.

The Dow Jones index jumped +834 points (+2.95%) to close at 29,157. The Nasdaq slipped -181 points (-1.53%) to settle at 11,713.

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Stocks ended mixed on Monday as investors applauded trial data from Pfizer saying their COVID-19 vaccine was more than 90% effective.

Traders rotated out of high-flying technology names that outperformed during the pandemic into more beaten-down value stocks.

The losses in Big Tech weighed on the broader market as the session went on, leading the Dow and S&P 500 to close well below their highs of the day.

The vaccine announcement was seen on Wall Street as a sign that the pharmaceutical industry may soon have a viable way to control a disease that has derailed the U.S. economy for much of 2020 and has killed more than 230,000 Americans.

“I think that the rally is justifiable. I think we’re going to start a new discussion, and the discussion is what’s America going to look like post Covid,” said CNBC’s “Mad Money” host Jim Cramer.

Monday also marked the first trading day after NBC News projected that former Vice President Joe Biden won the 2020 presidential election against incumbent President Donald Trump. The call came four days after Election Day and amid close counts in several battleground states.

Wall Street hoped the victory for Biden would reduce the odds of a drawn-out election fight, even as Trump refused to concede. Many traders had put on bets for market volatility in November and were unwinding those positions, helping fuel a rally.

Key Takeaway…

Dow and S&P 500 hit record highs after a Covid-19 vaccine is found 90 percent effective – Here’s what experts are watching

Pfizer and BioNTech said the case split between vaccinated individuals and those who received a placebo indicated a vaccine efficacy rate of above 90 percent at seven days after the second dose. Here’s what six experts say they’re watching and how they’re investing in this market.

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P 500 movers (both winners & losers).

Credit: Sector Graph provided by Sector SPDR app. Sector breakdown provided by Charles Schwab. Sector heat map provided by finviz. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

Download our new Handy ETF Guide

Subscribe to get our free weekly newsletter by email.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

11/9/20

S&P 500 Sector Graph

Pfizer COVID-19 Vaccine Results Shoot Market Higher

S&P 500 (SPY)

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Communication Services (XLC)

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Consumer Discretionary (XLY)

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Episode 1: Basic Investment Strategy – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 1: Basic Investment Strategy Episode 1 goes over my basic investment strategy for individual investors (from years of watching and learning from CNBC).

Consumer Staples (XLP)

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Energy (XLE)

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Financials (XLF)

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Real Estate (XLRE)

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Episode 2: Building a Diversified Portfolio – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 2: Building a Diversified Portfolio In this episode, I go over 5 stocks to build a diversified portfolio on. These are 5 stocks to hold for the long term in a retirement account such as a Roth or traditional IRA account.

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Episode 3: 6 Investing Rules for Individual Investors – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 3: 6 Investing Rules for Individual Investors In this episode I discuss 6 investing rules for the individual investor that is in charge of their own retirement account.

Technology (XLK)

Pfizer COVID-19 Vaccine Results Shoot Market Higher

Utilities (XLU)

S&P 500 Sector Heat Map

 

Leave a Reply

Your email address will not be published. Required fields are marked *