Tuesday's Market Minute: Markets Rally On FDA Vaccine Approval

Benzinga2021-08-24

Investors may be scratching their heads at the resiliency shown by the major U.S. stock indices as of late. Despite the Delta variant unleashing renewed fears of economic shutdowns globally and other factors that should be dampening markets – supply chain issues, labor and semiconductor shortages, inflation – stocks remain at all-time-highs.

“Markets climb that wall of worry,” said the Network’s own Scott Connor. The S&P 500 (SPX) hit an intraday high in Monday’s session, ending the day up 0.85% while the Nasdaq-100 (NDX) settled 1.46% higher at a record close. Even the indices not at records made headway Monday: the Dow Jones Industrial Avg. ($DJI) rose 0.6% and the small-cap Russell 2000 (RUT) gained 1.88%.

It seems anything coronavirus-related still holds the most weight in markets right now as the gains were spurred by the FDA’s granting full approval of its first COVID-19 vaccine made by Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX). In addition to vaccine makers, reopening stocks within the travel and restaurant industries led Monday’s rally as well as energy stocks. Crude oil futures (/CL) put an end to their longest losing streak since 2019, notching their biggest daily percentage gain since March.

That resulted in shares of Diamondback (NASDAQ:FANG) and Devon Energy (NYSE:DVN) gaining about 6%, while Occidental Petroleum (OXY) rose nearly 7% Monday.

Image by Johaehn from Pixabay

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

PaigeHeng
2021-08-26
PaigeHeng
??

Leave a comment

1

2

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2161025089?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-08-24 22:10","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2161025089","market":"hk","top_or_hot":-1,"title":"Tuesday's Market Minute: Markets Rally On FDA Vaccine Approval","media":"Benzinga","content":"<html><body><p>Investors may be scratching their heads at the resiliency shown by the major U.S. stock indices as of late. Despite the Delta variant unleashing renewed fears of economic shutdowns globally and other factors that should be dampening markets – supply chain issues, labor and semiconductor shortages, inflation – stocks remain at all-time-highs.</p>\n<p>“Markets climb that wall of worry,” said the Network’s own Scott Connor. The S&amp;P 500 (SPX) hit an intraday high in Monday’s session, ending the day up 0.85% while the Nasdaq-100 (NDX) settled 1.46% higher at a record close. Even the indices not at records made headway Monday: the Dow Jones Industrial Avg. ($DJI) rose 0.6% and the small-cap Russell 2000 (RUT) gained 1.88%.</p>\n<p>It seems anything coronavirus-related still holds the most weight in markets right now as the gains were spurred by the FDA’s granting full approval of its first COVID-19 vaccine made by <strong>Pfizer </strong>(NYSE:PFE) and <strong>BioNTech </strong>(NASDAQ:BNTX). In addition to vaccine makers, reopening stocks within the travel and restaurant industries led Monday’s rally as well as energy stocks. Crude oil futures (/CL) put an end to their longest losing streak since 2019, notching their biggest daily percentage gain since March.</p>\n<p>That resulted in shares of <strong>Diamondback </strong>(NASDAQ:FANG) and <strong>Devon Energy</strong> (NYSE:DVN) gaining about 6%, while Occidental Petroleum (OXY) rose nearly 7% Monday.</p>\n<p>Image by Johaehn from Pixabay</p>\n</body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tuesday's Market Minute: Markets Rally On FDA Vaccine Approval</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTuesday's Market Minute: Markets Rally On FDA Vaccine Approval\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-24 22:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/general/biotech/21/08/22636313/tuesdays-market-minute-markets-rally-on-fda-vaccine-approval><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors may be scratching their heads at the resiliency shown by the major U.S. stock indices as of late. Despite the Delta variant unleashing renewed fears of economic shutdowns globally and other ...</p>\n\n<a href=\"https://www.benzinga.com/general/biotech/21/08/22636313/tuesdays-market-minute-markets-rally-on-fda-vaccine-approval\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BNTX","symbol_name":"BioNTech SE","start_time":0,"source_url":"https://www.benzinga.com/general/biotech/21/08/22636313/tuesdays-market-minute-markets-rally-on-fda-vaccine-approval","article_id":"2161025089","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2161025089","pubTimestamp":1629814245,"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"Investors may be scratching their heads at the resiliency shown by the major U.S. stock indices as of late. Despite the Delta variant unleashing renewed fears of economic shutdowns globally and other factors that should be dampening markets – supply chain issues, labor and semiconductor shortages, inflation – stocks remain at all-time-highs.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BNTX":"BioNTech SE","PFE":"辉瑞","FANG":"Diamondback Energy","DVN":"德文能源"},"translate_title":"周二市场纪要：美国食品和药物管理局疫苗批准后市场反弹","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BNTX":0.9,"DVN":0.9,"FANG":0.9,"PFE":0.9},"content_text":"Investors may be scratching their heads at the resiliency shown by the major U.S. stock indices as of late. Despite the Delta variant unleashing renewed fears of economic shutdowns globally and other factors that should be dampening markets – supply chain issues, labor and semiconductor shortages, inflation – stocks remain at all-time-highs.\n“Markets climb that wall of worry,” said the Network’s own Scott Connor. The S&P 500 (SPX) hit an intraday high in Monday’s session, ending the day up 0.85% while the Nasdaq-100 (NDX) settled 1.46% higher at a record close. Even the indices not at records made headway Monday: the Dow Jones Industrial Avg. ($DJI) rose 0.6% and the small-cap Russell 2000 (RUT) gained 1.88%.\nIt seems anything coronavirus-related still holds the most weight in markets right now as the gains were spurred by the FDA’s granting full approval of its first COVID-19 vaccine made by Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX). In addition to vaccine makers, reopening stocks within the travel and restaurant industries led Monday’s rally as well as energy stocks. Crude oil futures (/CL) put an end to their longest losing streak since 2019, notching their biggest daily percentage gain since March.\nThat resulted in shares of Diamondback (NASDAQ:FANG) and Devon Energy (NYSE:DVN) gaining about 6%, while Occidental Petroleum (OXY) rose nearly 7% Monday.\nImage by Johaehn from Pixabay","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":810013072,"gmtCreate":1629934389896,"gmtModify":1676530174349,"author":{"id":"4087866747111470","authorId":"4087866747111470","name":"PaigeHeng","avatar":"https://static.tigerbbs.com/ee8f1e3e96488b03377c4dbbf4776832","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810013072","repostId":2161025089,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":2,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2161025089"}