- Major indices rebound after Friday's declines
- US passes 12 million coronavirus infections
- AstraZeneca (AZN.US) vaccine prevents an average of 90% to 70% of Covid-19 cases
US stocks launched today's session higher, as more positive news surrounding potential COVID-19 vaccines overshadowed increasing number of new infections and new social restrictions implemented by several states. On Friday Pfizer/BioNTech applied for an emergency use authorization from the FDA. Moncef Slaoui, head of the U.S. government’s vaccine development effort, named Operation Warp Speed, announced that the first Covid-19 vaccine doses, produced by Pfizer and BioNTech, could be handed out to key individuals as early as Dec. 11. AstraZeneca became the third drug maker to report that its experimental coronavirus vaccine showed high effectiveness in phase 3 trials. Also upbeat macroeconomic data lifted market sentiment. The IHS/Markit US Manufacturing PMI jumped to 56.7 in November of 2020 from 53.4 in October, beating market forecasts of 53, flash estimates showed. Meanwhile the total number of coronavirus cases in the US surpassed 12th million over the weekend and the number of daily infections reached record number of 204 179 on Friday. It is likely that the spread of the disease will accelerate even more in the coming days as millions of Americans travel for the upcoming Thanksgiving holiday. LA County in California, the most populous county in the U.S., has suspended outdoor dining, while Nevada’s Las Vegas lowered occupancy limits in casinos, restaurants and bars to 25% from 50%.
US500 – last week index broke below the major support at 3588.1 pts, however today buyers are trying to erase recent losses. If the current sentiment prevails then resistance at 3668 pts may be at risk. However if sellers will manage to halt advances here, then another downward impulse towards support at 3510 prs could be launched. Source: xStation5AstraZeneca (AZN.US) announced that the Covid-19 vaccine, developed with the University of Oxford, has shown up to 90% efficacy with no serious side effects in a clinical trial. Efficacy ranged from 62% to 90% depending on the dosage. Also the vaccine could be easily transported at normal refrigerator temperatures.
AstraZeneca (AZN.US) stock launched today’s session lower and is approaching major support at $53.50 which is additionally strengthened by 50 SMA (green line). Should downbeat moods prevail, next support at $51.72 may come into play. However if buyers will manage to halt declines here, then another upward impulse could be launched. Source: xStation5Regeneron Pharmaceuticals (REGN.US) stock rose 4% in pre-market after company Covid-19 antibody treatment received emergency use authorization from the Food and Drug Administration. Treatment is used in patients who are not hospitalized but are at risk of developing serious illness.
Merck (MRK.US) stock rose 1.9% in pre-market after company announced it will acquire privately-held drug maker OncoImmune for $425 million cash. OncoImmune is working on drugs for Covid-19, cancer and other diseases, and its vaccine candidate showed promising results late in the study.
Pfizer's (PFE.US) Covid-19 vaccine could receive U.K. approval this week, according to a report by the Telegraph news site. The FDA is likely to approve in mid-December the distribution of the vaccine made by Pfizer Inc (NYSE:PFE) and German partner BioNTech, (BNTX.US).
Boeing (BA.US) – Boeing’s 737 Max jet is safe to fly, according to European Union Safety Agency. Executive Director Patrick Ky said at the Paris Air Forum that the agency is set to lift its grounding order for the jet in January. Last week Federal Aviation Administration officially ungrounded the jet.
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