Premarket: Apple is green

apple premarket green 9-14From MarketWatch’s “Vaccine hopes and M&A action power European stocks and U.S. equity futures” posted early Monday:

European stocks marched higher on Monday, alongside U.S. equity futures, driven by vaccine hopes, mergers and acquisitions news…

Investors will hear from the Federal Reserve, the Bank of England and the Bank of Japan in the coming days in a busy week for central bank meetings.

Wall Street was also pointing to a stronger start, with Nasdaq-100 futures surging 200 points, or 1.2%, while S&P 500 futures rallied 37.47 points, or 1.4%, and Dow Jones Industrial Average futures jumped 340 points, or 1.3%…

Renewed hopes over a coronavirus vaccine also helped improved sentiment at the beginning of the week.

Pfizer Inc.’s (PFE) chief executive officer Albert Bourla said in an interview Sunday (link)that the drug maker should know if its COVID-19 vaccine candidate will work by the end of October — and if approved, it could be distributed in the U.S. by the end of the year. Pfizer is partnering with German drug maker BioNTech (BNTX) on the vaccine’s development.

My take: Hope for an effective vaccine, don’t count on one.

3 Comments

  1. Gregg Thurman said:
    Odds are on our side for a vaccine, there are just to many in late stage testing. Given the importance of a vaccine at least one will be FDA approved by years end.

    More comprehensive testing will occur on the general population. I mean what could be worse, dying from C19, or a drug that wasn’t thoroughly tested? At least with the “not tested for 5 years” drug your chances are better than surviving C19.

    1
    September 14, 2020
  2. Jerry Doyle said:
    “…. My take: Hope for an effective vaccine, don’t count on one.”

    A new poll about coronavirus vaccines shows two-thirds of Americans aren’t willing to get a COVID-19 vaccine. A quarter of those interviewed says they won’t ever get the vaccine, while 44% of them said they’d rather wait & see how the initial round of immunization goes.

    It seems the media & WS analysts are influencing the markets with a potential vaccine more than those targeted to receive. Then again, isn’t that the way it usually works?

    2
    September 14, 2020
    • David Emery said:
      I really wonder about the polling data on this. I suspect a lot of it depends on how you phrase the question.

      “Would you get a vaccine released on Nov 2?”
      “Would you get a vaccine recommended by President Trump?”
      “Would you get a vaccine vetted by CDC?”
      “Would you get a vaccine that had been thoroughly tested and found to be safe?”
      etc….

      1
      September 14, 2020

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