Monday 30th November 2020
At the end of the rally, Wall Street will run out of air. The corona pandemic and threats from the outgoing Trump administration towards Beijing are dampening the mood. Nevertheless, November goes down in stock market history as the strongest month in decades.
At the end of an extraordinarily strong month, Wall Street investors took profits. The leading index Dow Jones Industrial fell 0.91 percent to 29,638.6 counters and moved further away from the 30,000-point mark, which it had exceeded the previous week for the first time. What remains is still an extremely strong month. First shaped by the US election and then even stronger by the vaccine euphoria, the Dow rose 11.8 percent in November, the strongest month since 1987. Since Biontech and Pfizer fueled the euphoria on November 9th, the annual balance for the leading index is positive again. Regardless of the severe virus crisis, the Dow is currently almost four percent up on the previous year.
With the Dow, the market breadth also fell S&P 500 by 0.46 percent to 3621.6 points. The technology-heavy one Nasdaq 100 on the other hand, it managed, among other things, on the basis of price gains Apple just under 0.08 percent up, it closed at 12,268.3 points. The broader one Nasdaq Composite it was enough for a record in early trading.
Investor sentiment was also dampened somewhat by the fact that the outgoing US administration under President Donald Trump was once again heating up the trade conflict with China. According to media reports, Trump wants to put China’s largest chip manufacturer SMIC and the oil giant CNOOC on the black export list. The two companies are owned or controlled by the Chinese military, it said.
Vaccine application spurs Moderna
Listed under the individual values S&P Global 3.0 percent firmer. The company buys IHS Markit Ltd, making it one of the largest financial data providers in the United States. The pure stock deal is valued by IHS Markit at around 44 billion US dollars, as S&P Global announced. The “Wall Street Journal” had previously reported from circles about the imminent merger. It’s the world’s largest merger of the year. IHS Markit gained 7.4 percent.
Modern made a 20 percent leap forward. The vaccine manufacturer wants to submit applications for approval of a vaccine against Covid-19 in the US and Europe this Monday. After completing the study, the vaccine had a success rate of 94.1 percent, said the US company, which had previously reported such effectiveness.
United Airlines has, according to circles, started charter flights to distribute vaccination doses of the two companies Biontech and Pfizer to organize. The distribution plan includes existing but also additional capacities for cool storage and transport of the cans, it said. At the same time, the British government has informed the state hospitals that they should be ready to start distributing the Pfizer Biontech vaccine as early as next Monday. Pfizer prices rose by 2.9 percent, Biontech advanced by 13 percent.
The Apple stock Benefit from friendly analysts’ voices, who particularly emphasized the strong demand for the new 5G iPhones and the new Mac models with Apple’s own processor. For example, Loop Capital increased its rating to “Buy”. The house expects that Apple will exceed the experts’ expectations. The share gained 2.1 percent.
Nikola shares on the other hand collapsed by 27 percent. The car company General Motors (GM) will not participate in the manufacturer of battery-electric and fuel cell-powered vehicles. However, GM will deliver its fuel cell systems to Nikola for the construction of commercial vehicles. The GM share fell 2.7 percent.