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Comic: Stock Market Weighs Soaring COVID-19 Cases, Progress On Vaccines

Published 11/21/2020, 01:47 PM
Updated 11/21/2020, 01:50 PM

By Jesse Cohen

Investing.com - Stocks on Wall Street ended lower on Friday, as investors weighed the worrying increase of new COVID-19 cases against apparent progress on vaccines.

The Dow Jones Industrial Average fell 219 points, or 0.8%, to close the day at 29,263. The S&P 500 shed 0.7% to settle at 3,557, while the Nasdaq Composite ended the session down 0.4% at 11,854.

For the week, the Dow and S&P 500 lost 0.7% and 0.8%, respectively, to post their first weekly decline in three weeks. The tech-heavy Nasdaq however managed to score a gain of 0.2% over that time frame.

Coronavirus cases are soaring across the U.S., leading a handful of states and cities to reimpose social distancing restrictions to try to slow the rapid spread of the disease ahead of the winter season.

Public health professionals are also urging people to give up on holiday gatherings, with the Thanksgiving holiday just a few days away.

The biggest question in the market right now is whether the negative headlines of soaring virus cases and renewed lockdowns will be enough to derail the positive developments seen on the vaccine front.

Good news about potential vaccines from Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) had helped push the Dow and S&P 500 to a record high earlier in the week.

To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics

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Latest comments

"FDA grants emergency use authorization for experimental Regeneron Covid-19 cocktail given to Trump". Good news!
sooo the flu and common cold just went away in 2020...along with common sense I guess lmao
the bulls, or just cattle?
Calves
The vaccine is nearly ready, but it takes several months before the spreading of corona can be controlled and everyday life can be as before corona.
Market largely priced in all vaccines of any kind. Hard to expect anymore big reactions in this respect. On the contrary, new economic disruptions or anti-business actions from biden administration are not priced in.
market set to drop on Monday. Same pattern of previous sell offs occurred on Friday and so conveniently the surge in cases news came so that the sell off have a reason to happen.
Outright drop would be premature. Last week was about sector rotations and, so far, no one, in market-related terms, expects lockdowns that could disrupt economies. In worst-case scenario December will bring sideways market.
why do u say that
not too far in the future...tax hike fears
It is already here, though it is not the main factor yet.
Market “expected” to stay high next week. Reality: expect the opposite
market is too high nothing has changed much in pandemic situation
Market gradually loses direction. Too many uncertainties.
 By and large, market is more rational than media. In other words, media will continue be fixated on word “stimulus” way beyond the point when market stops reacting to it.
 Stay home mode overstayed its welcome. It is time for stocks linked to Chinese economic growth.
  BABA plus any 5G stocks ERIC is a cheap one.
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