The election results and the announcement made by the company Pfizer claiming that their Covid-19 vaccine is more than 90% effective against the coronavirus has brought some ups and downs for the stock market. While some stocks went down, some also went up high. let’s take a look at some stocks that have performed outstandingly.
Dow Jones and S&P Stocks:
During the time of elections and when the results of elections were declared, Dow and S&P surged up well and remained high. This was followed by the coronavirus vaccine announcement by Pfizer, which again caused Dow and S&P to surge up. These two events worked out very well for the stock market. Although the announcement made by Pfizer did bring some stocks down from their positions, the stocks of Pfizer and BioNTech remained up high very well during that time.
Dow Jones and S&P: Corona Virus Cases
The cases of coronavirus are rapidly rising. In the past few days, the cases have risen so greatly that it is not expected that the pandemic will subside soon. According to the experts’ analysis, the worst phase of the coronavirus pandemic is yet to come. This rise in the cases of Covid-19 brought down the Dow Jones Industrial Average and S&P Index by a large number of points.
The coronavirus cases will yet again drastically affect the stock market till the time they keep rising. The stock market as a whole would suffer if lockdowns or curfews are implemented again. This is because so many companies, that are re-establishing themselves after the unlocking, would again reach back, thereby again incurring losses.
Dow Jones and S&P: Unpredictable Future
What will happen next cannot be predicted as of now. There are high chances that the volatility will remain as it is and might even increase. Either the cases have to fall or a vaccine has to be approved properly. It does not seem that either of these scenarios is going to happen currently or very shortly. It can be hoped that the cases come under control soon.
As per the reports, there might be a lockdown imposed for four to six weeks. This is a suggestion given to Joe Biden by his medical advisor. If such a lockdown decreases the Covid-19 cases to a certain extent, then the times ahead could be brighter and it would also be easier for the companies to bring their positions back while if the cases do not lessen and continue to rise, then the situation would be complicated.
In conclusion, the future is uncertain and nothing can be said with surety unless some firm decision is taken or a vaccine is fully approved.
