Since election day, the markets are generally up, but some major declines in the Nasdaq point to a significant underperformance in the tech space. That may be a sign that tech, which led markets higher this year, is finally pulling back and letting other sectors lead.
With many non-tech names still below their all-time highs, a shift to those relative underperformers may help push the markets higher while tech takes a step back. Value investors have seen their holdings underperform growth, or even a more balanced approach, for years. But eventually, even value stocks can lead the market, and we may be on the cusp of such a move if the current trend continues.
Now here’s the rest of the news:
On Monday, drugmaker Pfizer (NYSE: PFE) announced successful trial results for its COVID-19 vaccine candidate. The treatment was deemed to be “more than 90% effective in preventing COVID-19.” To be sure, that is wonderful news.
We also have been told that it may take six months or longer for the vaccine to become widely available. It must be manufactured, distributed, and administered to enough people to achieve herd immunity. The Pfizer treatment must be administered in two doses. The 90% level of protection from the virus is not achieved until one week after the second shot. That works out to 28 days from when the first dosage is administered.
November 11, 2019
Lest We Forget!
Darren hardy shares a few words about Remembrance Day … Veterans Day in the US.
Here’s to all heros … and all people striving to be their best! 😉