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US stocks rose on Friday, helped by better-than-expected earnings and vaccine optimism.
Teleprinter | security | Latest | Change | % Change |
---|---|---|---|---|
I: DJI | MEDIUM DOW JONES | 29290.55 | +210.38 | + 0.72% |
SP500 | S&P 500 | 3562.25 | +25.24 | + 0.71% |
I: COMP | NASDAQ COMPOSITE INDEX | 11767.333521 | +57.74 | + 0.49% |
The Dow Jones Industrial Average rose more than 200 points or 0.7%, while the S&P 500 rose 0.7% and the Nasdaq Composite rose by about the same amount.
Teleprinter | security | Latest | Change | % Change |
---|---|---|---|---|
Dis | WALT DISNEY COMPANY | 138.00 | +2.52 | + 1.86% |
Disney is fueling some of the early-session gains after posting better-than-expected quarterly results, even with the negative impact of the pandemic.
DISNEY + SILVER LINING IN THE PANDEMIC QUARTER
Other stocks get an increase in profits; Cisco which has benefited from a leap in pandemic-related teleconferencing and DraftKings which has boosted its outlook, as sporting events restart.
Teleprinter | security | Latest | Change | % Change |
---|---|---|---|---|
CSCO | CISCO SYSTEMS INC. | 41.04 | +2.37 | + 6.13% |
DKNG | PROJECTS | 44.26 | +3.01 | + 7.30% |
Other stocks to watch this morning include Pfizer, BioNTech and Eli Lilly, all of which are higher.
Health and Human Services Secretary Alex Azar, speaking on FOX Business, said the distribution network is ready to go once a vaccine arrives.
“Pfizer will be doing its own direct distribution to pharmacies that we ask them to send based on instructions from our country’s governors as part of their distribution plan. Thus the vaccine will arrive in these pharmacies, the service in white gloves and the pharmacies will then carry out distribution plans to the target populations that the governors will have selected ”, he explained.
Teleprinter | security | Latest | Change | % Change |
---|---|---|---|---|
PFE | PFIZER INC. | 38.03 | +0.48 | + 1.29% |
BNTX | BIONTECH SE | 106.71 | +5.08 | + 5.00% |
THERE IS | ELI LILLY & COMPANY | 141.94 | +0.90 | + 0.64% |
DOW AND S&P 500 ONGOING FOR WEEKLY EARNINGS
Any gain on Friday will extend the Dow’s weekly rise by nearly 3% and a more modest 0.8% for the S&P 500. The Nasdaq braces for a 1.6% drop as investors pulled out of the holdings at large capitalization during several sessions.
Shares fell on Thursday after Fed Chairman Jerome Powell warned of increasing COVID-19 cases. “With the virus spreading now, it could be a difficult two months,” he said in a question-and-answer session at the European Central Bank Forum.
LOWER OIL SLIDES
Oil has fallen to the $ 40 a barrel level as investors debate how much demand could rebound when a vaccine hits the market.
ECONOMIC DATA
As for the economic data, the producer price index rose 0.5% year over year slightly more than the estimates tracked by Refinitiv. Excluding the volatile component of food and energy, prices increased 1.1% year over year.
In other reports, the University of Michigan’s preliminary consumer opinion index for November is due at 10 a.m. EST. It is expected to rise to 82.0 from the October final reading of 81.8, which was the highest since March. This represents a picture of real-time sentiment versus other lagging indicators.
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