Dow rose 136, advancers over decliners about 4-1 & NAZ was off 54. The MLP index jumped 5+ to 140 & the REIT index added 3+ to the 372s Junk bond funds fluctuated & Treasuries were sold today. Oil went up to almost 43, & gold tumbled 38 to 1834.
AMJ (Alerian MLP index tracking fund)
| CL=F | Crude Oil | 42.78 | +0.36 | +0.9% |
| GC=F | Gold | 1,834.30 | -38.10 | -2.0% |
British pharmaceutical giant AstraZeneca (AZN) said an interim analysis of clinical trials showed its
coronavirus vaccine has an average efficacy of 70% in protecting against
the virus. It comes after a string of encouraging vaccine results in recent weeks. Pfizer (PFE) & Moderna (MRNA) reported preliminary results showing that their respective Covid vaccines were around 95% effective. It
is hoped a Covid vaccine could help to bring an end to the coronavirus
pandemic that has claimed more than 1.3M lives worldwide. The
AZN vaccine, developed in collaboration with the University of
Oxford, was assessed over 2 different dosing regimens. One
dosing regimen showed an effectiveness of 90% when trial participants
received a ½ dose, followed by a full dose at least one month apart. The other showed 62% efficacy when given as 2 full doses at least one
month apart. The combined analysis from both dosing regimens found
average vaccine effectiveness of 70%. No hospitalizations or severe
cases of the disease were reported in participants receiving the
vaccine. “These
findings show that we have an effective vaccine that will save many
lives,” professor Andrew Pollard, chief investigator of the Oxford
Vaccine Trial, said. AZN stock fell 1.79 (3%).
If you would like to learn more about AZN, click on this link:
club.ino.com/trend/analysis/stock/AZN?a_aid=CD3289&a_bid=6ae5b6f7
Oxford-AstraZeneca Covid vaccine shows an average effectiveness of 70%
Economic activity in the euro zone sank once again in Nov after govs introduced new lockdowns & social restrictions to contain further spreading of the coronavirus. However, news that a Covid-19 vaccine might soon be ready for distribution has made businesses more confident about returning to their normal activity levels in the next 12 months. The flash euro zone PMI composite output index, which looks at activity in both manufacturing & services sectors, came in at 45.1 in Nov — the lowest reading in 6 months, & down from 50 in Oct. A reading below 50 represents a contraction in business activity. “The eurozone economy has plunged back into a severe decline in November amid renewed efforts to quash the rising tide of COVID-19 infections,” Chris Williamson, chief business economist at IHS Markit said. Amid a 2nd wave of coronavirus cases in the fall, many European nations tightened social restrictions in Oct, which has dented their economies once again. The economic shock was once again felt mostly in the services sector with non-essential shops closed, restrictions on movement & curfews. Williamson explained that the nature of the latest lockdowns is different from those introduced earlier this year & that has meant that the economic shock has been somewhat smaller. “There’s a broader picture here, which is the global nature of the lockdown back in the spring. So what we had there was a synchronized lockdown and that meant that was literally no demand anywhere, but now you’ve got pockets of very strong rebounding demand,” he added. However, the decisions to introduce new lockdowns have contributed to a cresting of new cases as well. As a result, European leaders are planning to lift some of the restrictions in the coming weeks, albeit in a very gradual manner.
Euro zone business activity shrinks to six-month low after new coronavirus lockdowns
Leaders of the world's 20 biggest economies have pledged to address
the global recession caused by the coronavirus & outlined plans to
accelerate an equitable & sustainable recovery at the conclusion of
the historic G-20 summit in Saudi Arabia. “We are committed to
leading the world in shaping a strong, sustainable, balanced and
inclusive post-COVID-19 era,” G-20 leaders declared in a 12 page
document. Saudi
Arabia's historic G-20 presidency, the first ever for an Arab country,
has been dominated by the need to address the economic & social impact
of the ongoing pandemic, which has now killed more than 1.3M worldwide. “The COVID-19 pandemic and its unprecedented
impact in terms of lives lost, livelihoods and economies affected, is an
unparalleled shock that has revealed vulnerabilities in our
preparedness and response and underscored our common challenges,” the
final communique said. The group pledged to “spare no effort to
protect lives, provide support with a special focus on the most
vulnerable, and put our economies back on a path to restoring growth,
and protecting and creating jobs for all.” The G-20 also pledged
to mobilize more resources to address the immediate financing needs to
support the research, development, manufacturing, and distribution of
safe and effective Covid-19 diagnostics, therapeutics & vaccines. “We
will spare no effort to ensure their affordable and equitable access
for all people,” the declaration added, without providing specific
details. “If
one country suffers, we will all suffer,” Saudi Arabia's Finance
Minister Mohammed Al-Jadaan told the summits final press briefing. “Every single leader was supportive of the G-20 initiatives to ensure
that we provide enough resources to ensure that the vaccine and
therapeutics are available to everyone.” G-20 leaders pledged to
address the disproportionate social & economic impact of the virus,
having already deployed an unprecedented $11T to accelerate the
global recovery & $21B at the outset of the crisis to support
health systems & the hunt for a vaccine.
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