Dow pulled back 23, decliners modestly ahead of advancers & NAZ rebounded 232. The MLP index was off 1+ to the 123s & the REIT index was fractionally higher to the 367s. Junk bond funds fluctuated & Treasuries found buyers today. Oil crawled higher in the 41s & gold fell 14 to 1862 (more on both below).
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2180338269244485)
The European Commission said it had sealed a deal with Pfizer (PFE) & BioNTech (BNTX) for the supply of up to 300M doses of their COVID-19 vaccine candidate. The
move follows PFE's announcement yesterday that its experimental
vaccine developed with BNTX was more than 90% effective, making them
the first drugmakers to show successful interim data from a large-scale
clinical trial of a coronavirus vaccine. Under the EU deal, the 27 EU countries could buy 200M doses, & have an option to purchase another 100M. The EU has already signed supply deals with AstraZeneca (ANZ), Sanofi (SNY) & Johnson & Johnson (JNJ), a Dow stock & Dividend Ariistocrat, for
their experimental COVID-19 shots, & is talking with Moderna (MNRA), CureVac (CVAC) & Novavax (NVAX) to secure their vaccines. PFE stock was off 16¢ & BNTX fell 3.31.
If you would like to learn more about PFE, click on this link:
club.ino.com/trend/analysis/stock/PFE?a_aid=CD3289&a_bid=6ae5b6f7
If you would like to learn more about BNTX, click on this link:
club.ino.com/trend/analysis/stock/BNTX?a_aid=CD3289&a_bid=6ae5b6f7
EU seals deal with Pfizer-BioNTech for 300M doses of COVID vaccine
Vehicle sales in China rose 12.5% in Oct from the same month a year earlier, the 7th straight monthly rise as the world's biggest vehicle market leads the global industry in recovering from lows hit during the COVID-19 pandemic. Global automakers including Toyota (TM) & Honda have forecast higher profits as their sales surged in China. The country's overall economic recovery has also accelerated, expanding by 4.9% in the Jul-Sep qtr, compared with 3.2% in the previous 3 months. Sales reached 2.57M vehicles last month, data from the China Association of Automobile Manufacturers (CAAM) showed. This time of year, known as "Golden September, Silver October," is typically a high point in sales for the industry, a time when consumers make purchases after staying away from showrooms during the stifling summer months. Passenger vehicle sales rose 9%, with some automakers including TM booking double-digit growth. For commercial vehicles, which constitute around a qtr of the overall market, sales surged 30%, driven by gov investment in infrastructure & as buyers upgraded to comply with tougher emissions rules. Sales of new energy vehicles (NEVs) surged 105% to 160K, their 4th consecutive month of gain. NEVs include battery-powered electric, plug-in petrol-electric hybrid & hydrogen fuel-cell vehicles.
China leads global auto industry recovery from virus with Oct sales rising 12.5%
Gold futures ended lower, with the precious metal relinquishing some of the modest recovery from the previous session amid a trifecta of headwinds: a stronger $, rising stocks & higher bond yields. Dec gold lost $14 (0.8%) to settle at $1861 an ounce, which helped the metal recover from a 5% tumble on Mon. Prices stand around 4.6% lower for the week so far.
Gold prices add to weekly loss as stocks, U.S. dollar and yields rise
US oil futures finished modestly higher,
extending their gains to a 3rd straight session. Enthusiasm for the
rally that was fed by prospects for a COVID-19 vaccine, however, has
faded, with prices ending near the session's low after OPEC cuts its 2020 forecast for global oil demand. Dec West Texas Intermediate crude rose 9¢ to settle at $41.45 a barrel, near the session's intraday low.
U.S. oil futures eke out a gain for the session
Dow Jones Industrials
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