LegacyFX Blog
  • Home
  • Education
  • Forex
  • Cryptocurrencies
  • Commodities
  • Indices and Stocks
  • Market Opportunities
  • Company Updates
No Result
View All Result
  • Home
  • Education
  • Forex
  • Cryptocurrencies
  • Commodities
  • Indices and Stocks
  • Market Opportunities
  • Company Updates
No Result
View All Result
LegacyFX Blog
No Result
View All Result
Home Commodities

Biden Win and Corona Vaccine Spike Markets

November 10, 2020
in Commodities, Forex, Indices and Stocks
0
Biden-Win-and-Corona-Vaccine-Spike-Markets

Biden-Win-and-Corona-Vaccine-Spike-Markets

153
SHARES
1.9k
VIEWS

Today, U.S. markets soared following a promising COVID-19 vaccine and Democrat candidate Joe Biden’s electoral victory. This significant boost is the markets’ strongest opens in months and significantly assisted companies throughout the economy, especially in its hardest-hit sectors. This surge is most prominently seen in the S&P 500 which rose 4.2% and the Dow Jones Industrial Average which soared 5.5%.

Pfizer’s and BioNTech’s announced that their vaccine has proven better in recent pivotal studies. If pending data show the vaccine is safe, Pfizer hopes to ask health regulators for permission to sell the shot by the end of this month. Even though these results are incomplete, they still bring a vaccine closer to getting cleared for widespread use.

As a successful vaccine has the potential to restart parts of the economy impaired by the pandemic, it is no wonder why markets rallied for pandemic losers in the tourism sectors, as shown by Carnival Corp. going up by 28% and American Airlines Group Inc. rising more than 21%. Additionally, shares in Pfizer rose 13%. Therefore, based on the vaccine news, investors are attempting to readjust their economic forecasts by including better economic growth post-pandemic. Conversely, though, economic growth in tourism once more would be disadvantageous to tech companies thriving on virtual experiences and lack of social contact.

The increase in stocks also reflects the much-anticipated results of the U.S. elections. This is further bolstered by expectations that a Democrat-controlled White House and divided Congress could result in moderate policy measures. This includes a lack of volatility and clear foreign and trade policy, without an increase in taxation, overseas tariffs, and regulations. Overall, the feared scenario of a drawn-out contested election has finally diminished, which reduced uncertainty in the markets.

This ease of tension and uncertainty is particularly prevalent for overseas investors, especially in Asia. This consensus is displayed in the fact that China’s Shanghai Composite Index closed 1.9% higher and Hong Kong’s Hang Seng Index rose 1.2%. Additionally, the Chinese yuan rallied to about 6.56 per U.S. dollar and Japan’s Nikkei 225 gained 2.1%.

  • Facebook
  • Twitter
  • Instagram
  • YouTube
  • LinkedIn
Tags: BidenCoronaCOVID-19ForexInvestmarketpresidentstocks

Welcome to the LegacyFX Blog

Welcome to the LegacyFX blog!
Here we write about everything related to Forex, stocks, and finances. Visit the company updates section for the latest news about the brand.

  • Trending
  • Comments
  • Latest
LegacyFX Presents PAMM Accounts

LegacyFX Presents PAMM Accounts

December 3, 2020
LegacyFX Presents PAMM Accounts

LegacyFX Expands to South Africa and Appoints Marius Grobler as Managing Director

November 18, 2020
World Stocks Ease Following Increased COVID-19 Cases

World Stocks Ease Following Increased COVID-19 Cases

November 20, 2020
PayPal Adopts Crypto

PayPal Adopts Crypto

November 17, 2020
Inauguration Inheritance

Inauguration Inheritance

0
LegacyFX Sponsors Larnaca Charity Event

LegacyFX Sponsors Charity Event

0
LegacyFX’s New Offerings

LegacyFX’s New Offerings

0
LegacyFX Participates in the Larnaka Marathon

LegacyFX Participates in the Larnaka Marathon

0
Inauguration Inheritance

Inauguration Inheritance

January 20, 2021
Netflix’s Unbeatable Run

Netflix’s Unbeatable Run

January 20, 2021
LegacyFX Presents PAMM Accounts

LegacyFX Partners with Sum and Substance Ltd.

January 14, 2021
2021 Investment Vision

2021 Investment Vision

January 5, 2021

Vist Us:


Go to LegacyFX Website


Trade with LegacyFX

About LegacyFX

The website is owned and operated by LegacyFX, a multi-asset trading specialist. LegacyFX is a substantially regulated Forex broker and it provides traders trading services, platforms, and education.

Contact Us: support@legacyfx.com 

Archives

  • Home
  • Education
  • Forex
  • Cryptocurrencies
  • Commodities
  • Indices and Stocks
  • Market Opportunities
  • Company Updates
  • About Us
  • #205 (no title)

Copyright © 2020 - All Rights Reserved

Disclaimer: All content, posts, articles, pictures, links, and information published here and throughout LegacyFX’s Blog are for informational purposes only and do not constitute an official opinion or call-to-action by LegacyFX. Opinions and information presented here may not coincide with other market reports and experts. Nothing presented should be construde as investment advice, recommendation, or suggestion to perform an actions with a financial instruments. The company carries zero influence over any markets and signals. Therefore, the company cannot be held liable for nor guarantee any profits or losses.

All content rights reserved. When copying or republishing the materials presented here, a link to blog.legacyfx.com or attribution in the format of "Provided by LegacyFX Blog" is required. Failure to comply with this rule may result in legal action. For general questions, please contact us via the form on the "Contact Us" page.

No Result
View All Result
  • Home
  • Education
  • Forex
  • Cryptocurrencies
  • Commodities
  • Indices and Stocks
  • Company Updates
  • About Us
  • #205 (no title)

Copyright © 2020 - All Rights Reserved

Disclaimer: All content, posts, articles, pictures, links, and information published here and throughout LegacyFX’s Blog are for informational purposes only and do not constitute an official opinion or call-to-action by LegacyFX. Opinions and information presented here may not coincide with other market reports and experts. Nothing presented should be construde as investment advice, recommendation, or suggestion to perform an actions with a financial instruments. The company carries zero influence over any markets and signals. Therefore, the company cannot be held liable for nor guarantee any profits or losses.

All content rights reserved. When copying or republishing the materials presented here, a link to blog.legacyfx.com or attribution in the format of "Provided by LegacyFX Blog" is required. Failure to comply with this rule may result in legal action. For general questions, please contact us via the form on the "Contact Us" page.