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(New York = Yonhap News) Yonhap Infomax Correspondent Oh Jin-woo = The New York Stock Exchange’s Leading Index Began to Rise on the 23rd on the 23rd with upbeat news regarding the new coronavirus infection vaccine (Corona 19) and strong economic data.
At 9:54 am (Eastern Time), the Dow Jones 30 Industrial Average on the New York Stock Exchange (NYSE) was trading at 29,554.84, up 291.36 points (1.00%) from the battlefield.
The Standard & Poor’s (S&P) 500 index was trading at 3,588.38, up 30.84 points (0.87%) from the battlefield, and the tech-oriented Nasdaq index rose 83, 26 points (0.7%) at 11,938.23.
The market witnessed the spread of Corona 19, news related to vaccines and key economic indicators.
Positive news about the Corona 19 vaccine followed.
The vaccine, which was developed by the University of Oxford in the UK and the pharmaceutical company AstraZeneca, also showed good effects in the third clinical trial.
The vaccine showed an average immunity of 70%, but the effect was analyzed to increase to 90% depending on the mode of administration. There were no specific side effects.
Additionally, the vaccine developed by Pfizer and Bioentech is expected to be approved for emergency use and the first vaccination in the middle of next month.
“We expect the first people to be vaccinated in the United States on 11 or 12 December,” said Monsef Slawi, chief executive of the “High Speed Operations” team that oversees the development of the Corona 19 vaccine in the US administration.
The US Food and Drug Administration (FDA) plans to approve emergency use on the 10th of next month and begin vaccinating people in need immediately.
Slawi also expected group immunity to be established in the United States by next May.
However, concerns are also raised about people’s trust in vaccines and actual vaccination rates.
US economic indicators released earlier in the day were also good, supporting investment sentiment.
The US service and manufacturing purchasing managers (PMI) index for November released by information provider IHS Markit far exceeded market expectations.
The US activity index for October, released by the Federal Reserve Bank of Chicago, also rose to 0.83 from 0.32 the previous month. The established figure was higher than the expert’s estimate of 0.23.
On the other hand, the current Corona 19 crisis in the United States has not subsided.
According to CNBC, the average number of new cases on 7 last week increased by about 20% from the previous week.
Lockdown measures have been tightened, including the state of California which has established a night curfew.
Additionally, there is also great concern that this week’s large-scale Thanksgiving movement may further fuel the spread of Corona 19.
Experts from the New York Stock Exchange have expressed their expectations for the Corona 19 vaccine.
Adam Krisapuli, founder of Vital Knowledge, said: “Currently, the three vaccines show 90% effectiveness and the US and Europe are in a hurry to approve them.”
“This vaccine optimism more than compensates for the short-term negative environment caused by measures to prevent the spread of the virus,” he said.
The stock markets of the major European countries are mixed. The pan-European Stoxx 600 index rose 0.01%.
International oil prices have risen. West Texas Crude Oil (WTI) price for January rose to $ 42.78, up 0.85% from the previous trading day, and Brent Oil rose to $ 45.54, up by 1.29%.
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2020/11/24 00:07 sent
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