November 9, 2020

November 9, 2020

The Dow and S&P 500 hit record highs today as investors cheered trial data from drugmakers Pfizer and BioNTech indicating their Covid-19 vaccine is more than 90% effective.

Dow Jones finished  +834 at 29,157

S&P 500 finished +41 at 3,550

NASDAQ finished -181 at 11,713

The 10 Year Treasury closed up 11 basis points yielding 0.93%

Oil prices closed up $2.92 ending at $40.06 a barrel

Gold prices closed down $86.30 ending at $1,865 an ounce

In the days’ stock news:

• Pfizer closed up more than 7% and BioNTech jumped almost 14%, after the two companies released trial data that showed their coronavirus vaccine candidate had an efficacy rate of more than 90%.
• Beyond Meat tumbled 4% after McDonald’s said will test a meat-free burger in several markets next year as it adds plant-based menu offerings. Beyond Meat had made the meat-free patties for McDonald’s Canadian test, and the fast-food chain ended the test in April.