The Stock Market Fluctuated on Monday. Which Stocks Gained?
Dow Jones futures changed insignificantly on Monday, along with Nasdaq futures and S&P 500 futures. The stock market fluctuated during Monday’s session as U.S. Covid-19 vaccine immunizations began. However, fresh coronavirus restrictions still loom on the horizon. The Nasdaq gained the most while many growth names cleared buy points, including PayPal (PYPL), AMD stock, Peloton Interactive (PTON), Penn National Gaming (PENN), and Innovative Industrial Properties (IIPR).
On Monday, Covid-19 vaccine stocks Pfizer (PFE) and BioNTech (BNTX) sold off while Moderna (MRNA) plunged low. Furthermore, Chinese internet giants Pinduoduo (PDD), JD.com (J.D.), Alibaba (BABA) stock, and Tencent (TCEHY) showed weakness. Recently-debuted IPO stocks DoorDash(DASH), Airbnb (ABNB), and C3.ai (A.I.) also plummeted sharply.
Dow Jones futures climbed up by 0.1% versus fair value earlier on Monday. S&P 500 futures also increased, while Nasdaq 100 futures declined by 0.1%.
According to reports, China retail sales jumped by 5% in November versus a year earlier, rising higher from October’s 4.3%, but still slightly below analysts’ expectations. In addition, industrial production surged forward by 7%, just above October’s 6.9%.
The Federal Reserve begins its final policy meeting of the year on Tuesday, with an announcement due Wednesday afternoon.
Meanwhile, Pfizer’s Covid-19 vaccine immunization jabs already began on Monday. The FDA gave emergency approval to the Pfizer and BioNTech vaccine late on Friday.
An FDA advisory panel will consider the Moderna Covid-19 vaccine on Thursday, with an FDA emergency use authorization afterward.
Covid-19 Vaccine stocks declined on Monday
Pfizer stock tumbled down by 4.6%, while BioNTech stock plunged by 15%. Moderna stock also lowered by 1.2% after initially increasing modestly.
Coronavirus cases reached 73.19 million around the globe, and deaths surpassed 1.62 million. In the U.S., infection cases have topped 16.94 million, with deaths above 308,000.
On Friday, New York City Mayor Bill De Blasio declared that the city could go into a full shutdown soon as Covid-19 cases soar there. Germany plans to begin a hard lockdown starting Wednesday.
Overall, the Dow Jones Industrial Average declined by 0.6% in Monday’s stock market trading, while the S&P 500 index dropped by 0.4%. The Nasdaq composite soared by 0.5% but closed near session lows.
Growth stocks lowered from recent highs, but still traded well. The Innovator IBD 50 ETF (FFTY) jumped by 0.8%. Meanwhile, the Innovator IBD Breakout Opportunities ETF (BOUT) surged forward by 1.6% to a fresh high after rallying by 5% last week. The VanEck Vectors Semiconductor ETF (SMH) also gained 1%, recovering from solid losses last week.
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