Last Monday the S&P 500 jumped 2% on news Pfizer’s COVID vaccine is 90% effective and today we started 1% higher on news Moderna’s vaccine is 94% effective sending those shares 10% higher. COVID cases continue to climb, hoarding is back, and vaccines are not likely to be widely available for 6 months, but the market appears to be looking beyond.
The Dow opened +400
At the close:
In corporate news shares of industrial distribution company HD Supply jumped higher last week on a rumor they were in talks to be acquired by Lowe’s which was later denied by Lowes, but today the stock jumped 24% on news they WILL be acquired, not by Lowes, but by Home Depot. Casper Sleep dropped 15% on disappointing results related to COVID supply chain interruptions.
Stocks ended the day lower with the DOW, S&P, and...
Stocks ended the week higher, with the DOW, S&P and...
U.S. stocks closed up today as the market bounced back...
May is historically a quiet month for the market and...
April has historically been one of the better months for...
For several months we have been noting stock valuations were...
