Dow fell 66, decliners over advancers better than 2-1 & NAZ retreated 146. The MLP index was even in the 155s & the REIT index went up 1+ to the 391s. Junk bond funds continued to be weak & Treasuries were in demand. Oil slid lower in the 61s & gold was off 2 to 1806.
AMJ (Alerian MLP index tracking fund)
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Pfizer (PFE) expects to deliver more than 13M doses of its Covid-19 vaccine per week to the US by the middle of Mar, more than
doubling its shipments from early Feb, a top PFE exec said
in prepared testimony ahead of a congressional hearing. PFE has shipped 40M doses to locations across the
US so far & is on track to deliver 120M doses of its 2-dose regimen by the end of Mar, said John Young, PFE's chief
business officer. He
added that PFE is also prepared to provide a total of 300M
shots to the US by the end of Jul & has raised global
production expectations for 2021 to at least 2B doses. The stock fell 48¢.
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
Pfizer to ship 13 million COVID-19 vaccine doses per week to U.S. by mid-March
More than 500K Americans who have died from Covid-19, a staggering toll that comes about a year after the virus was first detected in the US, according to data compiled by Johns Hopkins University. Today's grim milestone comes on the heels of some of the deadliest months of the pandemic. Following a fall & winter surge in Covid-19 cases, there were 81K reported deaths in Dec & 95K in Jan, both far surpassing Apr's peak of more than 60K. At the same time, US health officials are racing to increase the pace of Covid-19 vaccinations across the country.
U.S. surpasses 500,000 Covid deaths after yearlong battle with pandemic
Americans grew more confident in the economy in Feb after the gov stepped up stimulus payments to families & coronavirus cases fell sharply, but they were still worried about how long the pandemic will linger. The index of consumer confidence rose to a 3-month high of 91.3 in Feb from a revised 88.9 in Jan, the Conference Board said The forecast called for a small increase to 91.0. Consumer confidence is still far below pre-pandemic levels, however. The index stood at 132.6 before the viral outbreak last year. An index that tracks how consumers feel about the economy right now rose for the first time in 4 months — to 92 from 88.5. The gov sent out $600 stimulus payments to most families in Jan & increased unemployment benefits for Ms of jobless Americans. At the same, time the record increase in coronavirus cases at the end of last year began to subside, adding to a more positive tenor for the economy. “This course reversal suggests economic growth has not slowed further,” said Lynn Franco, senior director of economic indicators at the nonprofit board. Yet another gauge that assesses how Americans view the next 6 months —the future expectations index — slipped to 90.8 from 91.2. That reflects ongoing uncertainty about the path of the virus even as more & more Americans get vaccinated. One positive sign: The number of people planning vacations increased again, especially for those who intend to fly or travel outside the US. Other measures of confidence, including the consumer-sentiment survey & daily report by Morning Consult, have also been moving higher. The economy is on the mend again after a coronavirus-induced soft patch at the end of last year. Yet the pace of growth will be dictated by how quickly the vaccines are administered & the virus begins to fade. For now the answers are still unclear.
Consumer confidence climbs to three-month high as more Americans plan vacations
Optimism over another round of fiscal stimulus to help support the
economy has helped boost shares of companies levered to a strong
economic reopening. However the pork filled bill remains stuck in Congress & investors are losing patience. The short term chart below the Dow below shows the Dow has been flattish for more than a week.
Dow Jones Industrials
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