U.S. Equity Markets surged on vaccine optimism, finishing the day higher but well off the intra-day highs. The Dow led the market higher closing 2.95% higher, while the NASDAQ 100 finished the session with a loss of 2.16%. Vaccine data was the big story. Pfizer and BioNTech said their joint COVID-19 vaccine candidate showed a 90% efficacy rate in late-stage trials. The 90% effectiveness is well above expectations. National Institute of Allergy and Infectious Diseases director Dr. Anthony Fauci has said he is hoping for a COVID-19 vaccine to be 70% to 75% effective. The companies added that the vaccine showed no serious adverse effects. This was the big driver yesterday. An effective vaccine would allow the economy to move toward some sort of normal. This bodes well for the overall economic recovery and future growth. Elsewhere, election uncertainty subsided after Joe Biden was announced as the winner of the 2020 presidential election. Biden is expected to send a deficit-financed economic recovery bill to Congress for approval soon after being sworn into office. European Markets surged led by the French CAC and German DAX which closed higher by 7.6% and 5.35% respectively. German Export data for September were stronger than expected, implying the regional economy may be outperforming low expectations. Euro-Zone Investor Confidence data for November beat estimates, indicating individuals are more optimistic about the growth outlook than previously thought. The Bank of France said the second wave of Coronavirus lockdowns will have a smaller impact on the economy than the first. Italy’s government approved a $6 billion Coronavirus aid package for businesses, while also adding $3 billion in increased government spending. Elsewhere, Oil spiked on growth optimism, closing 7.89% higher, while Gold was slammed, closing 4.45% lower as investors rotated into risk assets like stocks.
To mark my 2175th issue of TraderNoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on firstname.lastname@example.org for details
For anyone following my Platinum Service it lost 170 points yesterday and is now ahead by 817 points for November having made 2779 points in October, 3042 points in September, 2383 points in August, 3128 points in July, 2580 points in June, 2456 points in May, 4773 points in April, an incredible 9264 points in March, 2223 points in February and 2142 points in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points
I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification