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▲ New York Stock Exchange (NYSE). New York / AP Newsis
The New York Stock Exchange rose in anticipation of the US buying season on 27 (local time) to resolve political uncertainty, to develop a new vaccine against coronavirus infection (Corona 19).
The Dow Index closed at 29,910.37, up 37.90 points (0.13%) from the previous trading day. The S&P 500 index rose 8.70 points (0.24%) to 3638.35, while the NASDAQ tech-oriented index rose 111.44 points (0.92%) to 12,205.85, respectively. The S&P 500 Index and NASDAQ once again broke record highs based on the closing price.
Expectations for the year-end shopping season, such as Thanksgiving and Black Friday, have given the stock market momentum.
According to Adobe Analytics, the day before Thanksgiving, US retailers posted approximately $ 5.1 billion in online sales. This is an all-time high, with an increase of around 22% compared to the same period last year.
Online consumption is also expected to increase significantly at the end of the year due to Corona 19.
Distribution-related stocks rose all at once in anticipation of online sales growth, leading the stock market to rise. Etsy 10.7%, Gamestop 9%, Amazon 0.3%, Spotify 1.5%.
The resolution of political uncertainty in the United States also supported investment sentiment.
US President Donald Trump announced he would leave the White House if Joe Biden won in the electoral vote. Uncertainty about the transfer of power has been reduced.
There was some troubling news about the Corona 19 vaccine, but the stock market was supported as development expectations continued.
Previously, AstraZeneca and the University of Oxford had announced on the 23rd that the average immune effect was 70% as a result of the initial data analysis of a phase 3 clinical trial of a vaccine in development.
At the time, AstraZeneca pointed out that its vaccine also increases the immune effect by 90% if the method of administration is changed. If half the vaccine dose is initially given and the full dose is given after one month, the preventive effect rises to 90%.
The problem is that the change in the participants ‘dosage was due to the researchers’ error. As a result, the experts questioned the reliability of the results, stating that the clinical trial was not designed to measure the effectiveness of the vaccine when given half a dose.
AstraZeneca has continued to evolve. Pascal Sorio AstraZeneca, CEO of AstraZeneca, told Bloomberg that “we have found a better effect and we need to do more research because we need to verify it. It will be a global study.” Research can proceed as quickly as participants need. “
In addition to further clinical trials, the UK government has entered the vaccine approval process and the Corona 19 vaccine is expected to be released in the United States in mid-December.
Mike Zigment, CEO of Harvest Management, said, “As pharmaceutical companies have released positive data on the COVID-19 vaccine and political risks are diminishing, the risky asset investment environment is improving.”
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