Dow spikes nearly 1,600 points as vaccine news, Biden victory rev up markets

[brooklynite]

Source: Washington Post

U.S. stocks soared Monday, as promising coronavirus vaccine news and Joe Biden’s White House victory sent investors into a frenzy.

Dow Jones industrial average futures spiked nearly 1,600 points, or 5.6 percent, Monday after drug giant Pfizer and German biotechnology firm BioNTech announced that their vaccine candidate was more than 90 percent effective, compared with a placebo. It is the strongest sign yet that the unprecedented effort, breaking every scientific speed record, to develop a vaccine was within sight.

Read more: https://www.washingtonpost.com/business/2020/11/09/stocks-markets-biden-trump-coronavirus/

[fearnobush]

1. 90% effective

I’m gonna steal this one for Biden away from trump.

[muriel_volestrangler]

2. Pfizer Research Head Distances COVID-19 Vaccine From Trump's Operation Warp Speed

Pfizer's head of vaccine research has distanced the firm's COVID-19 vaccine development from the White House's Operation Warp Speed.

Launched earlier this year, Operation Warp Speed was set up with the goal to help produce and deliver 300 million doses of vaccines, with initial doses of these to be available from January 2021.
...

Link to tweet

She told The New York Times: "We have never taken any money from the U.S. government, or from anyone."

Jansen also told The Times that Pfizer was "never part" of Operation Warp Speed.

https://www.newsweek.com/pfizer-covid-vaccine-operation-warp-speed-trump-pence-1546024

What the US govt did was agree to buy some of it; the R&D and testing would have happened anyway.

[eppur_se_muova]

3. Gold just dropped $100/oz.

Uncertainty and chaos drive up gold prices, and 45 did plenty of that, to my small profit. I'm planning on donating the profits to a worthy cause connected with the US Senate.

[IronLionZion]

5. I hear there are some expensive runoffs in Georgia

The Devil went down to Georgia

[Steelrolled]

6. You are right - that race will probably set records

for outside money flowing in. Perhaps the cable news folks can make a reality show out of it.

[Steelrolled]

4. I think vaccine success was somewhat already baked in

It this was truly a surprise, we would have seen an even bigger jump.

[maxsolomon]

7. I congratulate Pfizer and BionTech on their timing.

I'm sure it won't stoke any CTs among the 70 million Trump voters.

[OneBlueSky]

8. if there's anything that will infuriate Trump . . .

it's the stock market making big gains following the Biden victory . . . he's probably pulling out orange hair by the handful . . . and screaming obscenities like a sailor . . .