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D&D Note

D&D Note (7.1.2020) ~ New Quarter Begins With Another Vaccine Related Hope Rally ~ #StockMarket #HopeRally #Vaccine

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D&D Note (7.1.2020) ~ New Quarter Begins With Another Vaccine Related Hope Rally ~

The 3rd quarter began today seeing markets rally on Hope with vaccine news over shadowing surging Covid-19 concerns. Pfizer announced positive vaccine results on early stage human trials. PFE rose 3.18% on the day.

This while the US has second-highest day of new virus cases of 44,700 and many states setting new records.

Also helping boost stocks today was manufacturing data showing green shoots of rebound.

The majority of ETF inflows in Q2 went into bonds, credit, and gold rather than equities (outside of the QQQ).

Markets took a leg lower into the close in the final 5 minutes of trading.

DOW down -0.30%

S&P 500 up 0.50% (3115.86)

NASDAQ up 0.95%

VIX down -5.26% to 28.83

Oil up 1.27% to $39.77 a barrel.

Gold down -1.06% to $1781.40 an ounce after hitting near 8-year peak.

Apple to re-close an additional 30 stores making the total now 77 re-closed stores due to rising Coronavirus cases.

Google confirms they are keeping offices closed until September 7th.

A new Yale study shows that the official death count from Covid-19 in the US is ‘a substantial undercount’ of real tally by up to 28%.

California closes indoor dining in 19 counties including LA. New York City also halts plans to reopen indoor dining.

Houston’s ICU beds are now completely full after surge in hospitalizations.

Arizona reports 4,900 new cases and 88 deaths which is new record ahead of VP Mike Pence visits the state.

Global Virus cases: 10.53 million+

Global Virus deaths: 512,689+

US Virus cases: 2.65 million+

US Virus deaths: 127,681+

 

~ Dave James / Principal Trader and Market Strategist

About ddinvestments

Trading Partner for D&D Investments

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