With a new day of gains, having the Nasdaq mark a record, the FDA gave full approval on Monday to the Pfizer-BioNTech covid-19 vaccine. The agency had given emergency approvals for covid-19 vaccines so far, but no total approvals before this one. Thus it can mark new opportunities for new vaccine candidates and treatments based on similar technologies.
This approval also signaled investors of the possibility of an improved economy despite the delta variant infections surging across the developed world. “To the extent that the general public becomes more comfortable living with the virus – either because of increased vaccinations or natural immunity from recovered infections – the economy is likely to continue on its upward trajectory,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.
As the full approval assures investors of a better trajectory through 2021, this will likely propel more companies and organizations to have vaccine mandates. Some of the US’s biggest companies in many industries are already mandating that their employees are fully vaccinated before returning to work, even as some were hesitant to do so because of the regulatory status of all vaccines. Now that regulators have vacated the entire process, at least on the US’s main vaccine candidate, more and more mandates are expected to come, experts say.
Both American Pfizer’s and German BioNTech’s stocks are up 2.4% and more than 9%, respectively, signaling strong confidence in both companies.
On Friday and Monday, traders shook off delta variant fears and the Fed’s taper talks worries to mark two positive trading days. Intraday records were set by basically all major U.S indices, with the Nasdaq gaining almost 1.6% and the Dow rallying up 0.6%. However, experts still expect investors to be wary about the novel variant of the virus, the Chinese crackdown, and the Fed’s policy talks to mark the future of the markets in the following days.
At close, even commodities like the West Texas Intermediate crude oil (5,26%) were up.
Do you remain bullish? Or are you wary of what’s next to come in the market? Let us know in the comments below.
For more about the Investing and Finance world, check out our newest weekly NewsFlight at FlexInvest Academy.
