This month, markets have benefited from many comfort factors, beginning with the positive outcomes of many coronavirus vaccine trials, but also the approval by Donald Trump of the presidential transition, or the insistent reports of former Fed boss Janet Yellen as head of Joe Biden’s Treasury Department. But, it is necessary for this appointment to must be confirmed by the Senate, which should remain under the jurisdiction of the Republicans.
As an ex Fed boos, monetary policy of Ms. Yellen remained appreciated by the markets. And now the financial sector has been viewing her appointment as Treasury Secretary as well placed to settle on a budget support package that can be accepted by the Senate.
The stocks of biotechnology companies claiming success of their Covid vaccine candidates showed different attributes on Wednesday. Pfizer Inc (PFE) was down -0.19 percent on Wednesday while BioNTech SE (BNTX) was up 3.03 percent. As per report by the Washington Post, the US government is scheduled to administer 6.4 million doses of their vaccine against the latest coronavirus within 24 hours of approval.
Moderna Inc (MRNA) was also up 10.78% as it has announced an agreement with the European Commission to include an additional 80 million doses of its Covid-19 vaccine candidate.
Altimmune Inc (ALT) rose +9.08 percent as it has filed an application with the U.S. Drug Agency for approval of its Covid vaccine candidate for a Phase I clinical trial.
At the software side of technology sector on the Wall Street, Palantir Technologies Inc (PLTR) went up 21.96 percent on Wednesday to $29.05. From the benchmark price of its IPO less than two months ago, on September 30, shares of the U.S. firm that is expert in big data applications has now increased four-fold to $7.25.
Since November 17, Palantir’s stock has increased following the announcement that two hedge funds have purchased substantial shares in the firm, including Point72 Asset Management (29.9 million shares, or 2.6% of the capital) and Anchorage Capital Group (3 million shares, or 0.3 percent of the capital).