Market to hit all-time high this morning !

[cathy63]

A quick look at my stocks shows the ones that gain the most today are the ones beaten down the worst by the virus. My top 2: Valero (oil refinery), and Sysco (restaurant supplier).

There's light at the end of the pandemic tunnel! Heh heh heh...

Wow, just took a look and I see lots of things are rocketing up today!

My big gainer is Intuit though, which doesn't seem pandemic related.

My losers are Lowe's and Clorox. I guess hope for a vaccine means less need for bleach, and less time to do home improvement projects.

 

[Chuckanut]

Wake me up when the stores start having 2 for 1 sales on sanitizing wipes.

Betting against the ability of the American people to get past bad times is usually a mistake.

Excuse me while I set back and enjoy the show.

 

[MichaelB]

I suspect we have more economic pain to go in the short term. Not sure how many people had reached “COVID fatigue” and decided to just take their chances, but with the vaccine announcement, folks now are more likely to grit their teeth and hold back a little longer. Over the short term, business recovery will probably suffer as a result.

 

[NW-Bound]

I suspect we have more economic pain to go in the short term. Not sure how many people had reached “COVID fatigue” and decided to just take their chances, but with the vaccine announcement, folks now are more likely to grit their teeth and hold back a little longer. Over the short term, business recovery will probably suffer as a result.

Yes, it will take a while for things to renormalize. But people always try to get in first to get the front row seats.

Carnival up 37%, and Royal Caribbean 29% today as of this post. What is their earliest cruise date? Nobody knows yet. Still, buy, buy, buy...

Meanwhile, my Pfizer shares are up a measly 8% or so.

 

[WyomingLife]

Intuit? Maybe people expect them to make more money with tax law changes, which will be sure to come.

With the caveat that if I could tell the future I'd be in Vegas this evening, I don't think tax law changes are "sure to come" given what is likely to remain a deeply divided Congress under all reasonable scenarios, including the upcoming GA run-offs.

[mod edit]

The election cycle never ends, and it is excruciatingly difficult to advance major tax legislation without bipartisan support or fairly dominant one-party control.

I think one explanation for some of what we are seeing today on Wall Street is support for a gridlocked federal government.

 

[SecondCor521]

Wow, just took a look and I see lots of things are rocketing up today!

My big gainer is Intuit though, which doesn't seem pandemic related.

My losers are Lowe's and Clorox. I guess hope for a vaccine means less need for bleach, and less time to do home improvement projects.

Intuit is currently up less than the Dow but more than the S&P. I'm not familiar with the stock, but it looks to me like it's just a case of a rising tide lifting all boats.

 

[NW-Bound]

My losers are Lowe's and Clorox. I guess hope for a vaccine means less need for bleach, and less time to do home improvement projects.

Whoa, Home Depot down 5%, Lowe's down 9%.

These 2 stocks are still up a lot, compared to where they were prior to the pandemic. Investors expect their good time to be ending, when homeowners are no longer cooped up.

 

[foxfirev5]

Why don't I feel good about this big jump in my portfolio today? Normally a rotation into value would be nirvana. However I'm just not feeling it. I'm hoping I'm wrong but can't help feeling that there's more pain on the Covid front.

 

[grasshopper]

Total head fake.

 

[cathy63]

Total head fake.

Yup. By the end of the day, I'm up 2%, which is right in between where the S&P 500 and the Dow ended up. Oh well, I look forward to seeing what the market has in store for the rest of the week.

 

[Amethyst]

The health-care workers whom we all admire...will serve as guinea pigs.

T It remains to be seen whether that promised 90% efficacy is real, if there are no unforeseen side effects and whether the complicated distribution chain will deliver the vaccine to all who want it.

 

[Montecfo]

Interesting day

My biggest gainer was BHC up 15 percent. DIS, PFE, MA, V, RTX and my banks also did well.

Relatively recent purchase POOL lost 16 pct (but still up), that was biggest percentage loser, but ETSY, SHOP, and TDOC also down a lot but all still big gains.

Overall a really nice day to own PFE.

 

[W2R]

Closing price for the Dow today was 29,157.97.

That was almost as high as on Feb 12th, when it closed at 29,551.42.

Pretty good!

 

[audreyh1]

Well, if this holds through Jan 4 (especially with a Santa Claus rally) I’ll be happy to rebalance Jan 4 before the SHTF again.

This is a great example of how the markets can leap way into some fantasized future.

 

[Fermion]

Really feels like everything good is priced in.

 

[Montecfo]

It was really just a realignment

Open economy names rose, stay at home stocks fell. Value up, growth down (some exceptions). Dow up a lot, NAS down a lot, S&P up a bit.

Paytech companies have been great. Good for stay at home, great for opening economy.

I knew this day was coming, was not sure when but it is close to schedule.

 

[Koolau]

Ahhhhhhhhh! Just another day in Paradise, but YMMV.

 

[RISP]

Contrary to the earlier announcements by startup companies, this one by Pfizer was made after a clinical Phase 3 involving 43,000 people over the world. This candidate vaccine is a lot further along, and Pfizer has not publicized it until now. Makes me wonder if other major pharmas also have something else like this.

I doubt it. Not sure if this has been mentioned before, but Pfizer really only provided financing and test/vaccine production infrastructure here. The development of the vaccine was done by the German BioNtech, which, while maybe not a startup any more, is a relatively new (founded in 2008), relatively tiny (~1,300 employees) outfit. They were smart enough to realize that they needed a bigger partner to test/produce a vaccine on an industrial scale, and that's why Pfizer is in the boat. But the innovation was done by a very small German company, not any of the major pharma multi-nationals. (Please excuse the small outbreak of patriotism. )

 

[NW-Bound]

I doubt it. Not sure if this has been mentioned before, but Pfizer really only provided financing and test/vaccine production infrastructure here. The development of the vaccine was done by the German BioNtech, which, while maybe not a startup any more, is a relatively new (founded in 2008), relatively tiny (~1,300 employees) outfit. They were smart enough to realize that they needed a bigger partner to test/produce a vaccine on an industrial scale, and that's why Pfizer is in the boat. But the innovation was done by a very small German company, not any of the major pharma multi-nationals. (Please excuse the small outbreak of patriotism. )

Yes, I read that BioNTech is a German company founded by the scientist couple Ugur Sahin and Ozlem Tureci. Sahin emigrated from Turkey when he was 4, and Tureci was born to a Turkish doctor.

What I meant in the post was that Pfizer/BioNTech endeavor was a lot further along than those previously announced by smaller companies, who often have to seek publicity to raise more money, and the progress was quite preliminary.

BioNTech is not all that small, with 1300 employees. Yet, in order to achieve Phase 3 trial with tens of thousand participants, it needs the help of a much bigger pharma. Similarly, it would be a lot more difficult for Sahin to achieve what he did, if he were to have his startup in Turkey instead of Germany.

Big companies can afford to work quietly to get to the end goal, while smaller companies have to beat the drum all the time to get attention and money. Another example is Tesla's Autopilot and Waymo (Google) true autonomous system. The latter is way superior and more complete, yet not many people know about it.

 

[Time2]

Yup. By the end of the day, I'm up 2%, which is right in between where the S&P 500 and the Dow ended up. Oh well, I look forward to seeing what the market has in store for the rest of the week.

I guess it's a relative thing.
Any other day we would all love a 2% gain in one day.

 

[W2R]

OK, you all, I just have to make a happy post. Today, for the third day in a row, I have more in my portfolio+bank accounts than ever before in my entire life!

Sorry, I just have to tell SOMEBODY and you all were posting about this stuff, so there it is.

 

[audreyh1]

Here we go again!!!

 

[W2R]

Here we go again!!!

 

[REWahoo]

Here we go again!!!

Yep, we've been "W*eeeeed" on.

 

[W2R]

Yep, we've been "W*eeeeed" on.

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