By Stephanos Christodoulou
Your commercial awareness dose!
The coronavirus has been taking a toll on the world economy since it started spreading in the early months of 2020. Lately, Pfizer’s COVID-19 vaccine has generated optimism in the economy. It is expected that the economy would rebound in 2021 and the coming years when the whole world is vaccinated against COVID-19. Although the safe administration of the vaccine to billions of people is a huge challenge, there is the hope of the market revival.
The airlines, hotels, restaurants, and retailers have suffered the most but now there is hope for them. The research and testing for the COVID-19 vaccine have been going on all over the world since it became a global problem. WHO has confirmed that a COVID vaccine will be soon in the market and available to masses by late 2020 or early 2021.
When Pfizer’s vaccine became breaking news in the U.S, it was taken as a good omen by investors because the optimism was reflected in the stock market indexes on Monday. The Dow Jones Industrial Average was about 5.4% up, and the S&P 500 Index was up by 3.8% the same day.
Gradually, as the vaccine is dispersed, the situation will get better when the businesses will have freelines, and the investors would feel safer. It could provide the needed boost to the economy as it might translate into new job opportunities for Americans who have lost their job during the COVID pandemic. The strong results in trials of Pfizer COVID-19 vaccine have shown that it can cure and prevent COVID in 90% of the vaccinated individuals. No major health and safety concerns were raised when the vaccine was tested on more than 43,000 people.
In the wake of the second coronavirus wave, the European Union has agreed to purchase 300 million doses of the COVID-19 vaccine from Pfizer. Other vaccine developers are also not far from reaching the journey’s end. The vaccine maker Moderna has reported that the vaccine is going through phase III trials, and it will be sooner available to the public when the remaining concerns of side effects are gauged.
Similarly, Oxford University-AstraZeneca-backed COVID-19 vaccine candidate is also going through phase III trials. The early batches of the vaccines will be administered by Christmas 2020. The COVID vaccine will soon become the sunshine following the COVID hardships. Although the effects of the COVID will be long-lasting, a smooth recovery is expected to start by the end of 2020 or at the beginning of 2021.
Along with the stocks of other companies, the oil prices spiked 16% as compared to their performance on November 1, 2020. The share prices of major tech companies rose on Thursday, with Apple up 3 percent, Microsoft rose 2.6 percent and Amazon was up 3.4 percent. Despite the uncertainties created by the spread of the virus, there are significant chances of improvement. The trading dynamic on Thursday showed that investors will be more inclined towards buying shares of tech companies for now.
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