Why the Dow Jones Could Quickly Hit 35,000
November 19, 2020 at 05:00 AM EST
The anticipation is palpable... and building fast. We've had three reports on extremely effective upcoming coronavirus vaccines, and each report practically blows the last one out of the water. First we heard preliminary reports that Pfizer and BioNTech's revolutionary messenger RNA (mRNA) coronavirus vaccine was 90% effective. That was great... until yesterday morning, when the biotechs got back in touch to say the real figure was something closer to 95%. And in the middle, we've heard from Moderna, which is reporting its mRNA vaccine is 94.5% effective. Every time, stocks have taken off like a shot at the news; vaccines have helped push the Dow back above its February 2020 highs. Here's the thing... setting aside the six vaccines The New York Times reports are in limited use in China and Russia - about which there are many unanswered questions - there are at least nine more coronavirus vaccines deep in phase 3, large-scale efficacy trials. And there are no less than 55 more candidates in earlier, phase 1 and 2 trials. Some of these vaccine candidates won't advance, but others almost certainly will - two have already. That all this has happened in less than a year is an "Apollo moonshot"-like scientific achievement. But that's also a whole lot of concentrated upside potential that could flood the markets and push stocks to almost unthinkable highs. So I asked Money Morning Chief Investment Strategist Shah Gilani what it all means for us investors... Read more... Tags: trading strategies To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Why the Dow Jones Could Quickly Hit 35,000 appeared first on Money Morning - We Make Investing Profitable .