It’s going to be a long, long time before we can all safely get on a cruise ship again.
But based on the action we saw on Monday, with cruise line Carnival Corp. (CCL) skyrocketing up 39.29% by close, you’d think that it had been announced that Covid-19 had been eradicated.
In reality, the announcement that we did get was that American pharma giant Pfizer Inc. (PFE) and its German biotech partner BioNTech SE (BNTX) released some preliminary results from their Phase 3 trial for a Covid-19 vaccine, showing that the vaccine candidate prevented over 90% of Covid-19 infections.
As a result, the Dow shot up 6%, the Russell 2000 index of small-cap stocks up spiked 7.5% at one point, and the S&P 500 was up 4.5%.
Stock markets shot up this morning, with the Dow up 6%, the Russell 2000 index of small-cap stocks up 7.5% at one point, and the S&P 500 up 4.5%.
Pretty much every sector was along for the ride. Utilities, real estate, pot stocks, and energy all rose as sectors that have lagged behind are now catching up.
It’s all because of some great news on the Covid-19 vaccine front. American Pfizer Inc. (PFE) and German BioNTech SE (BNTX) just released some preliminary results from their vaccine candidate, showing that it prevented over 90% of Covid-19 infections.
This is truly fantastic news. Never before have we managed to create a vaccine in under a year. It’s not even been close…