Your Monday Blip 11/23/20

Your Monday Blip 11/23/20

This week will be a short one due to the Thanksgiving Holiday. Officially, markets are closed Thursday and will close 3 hours early on Friday. Unofficially however traders will start to drift away on Wednesday and not return to action until Monday the 30th.
The Dow today posted a 327 point gain to close at 29,591. Trading volume was higher.
Rising covid infections are meeting rising optimism of covid vaccines. With Pfizer and Moderna leading the vaccine race Astra Zeneca today released data on its vaccine trials and while not as good as the other two, the Astra vaccine showed 70% effectiveness on average but ranged from 60% to 90% depending on dosage. The Astra vaccine might also be a cheaper alternative thanks to not needing super low temps for storage.
There was chatter today about markets being at risk of a pullback. Securities America put out a blub showing in the six months from Feb. 29 to Aug. 31, 163,735 U.S. businesses have closed their doors, including 97,966 businesses (60%) that are likely closed for good (Source: Yelp Economic Average, BTN Research). Contrast this however with the latest HIS Market Manufacturing and services sector purchasing managers index expanded at the fastest rate in more than 5 years. Chris “Willy” Williamson at HIS Market said the upturn shows that demand is strengthening and called it an encouraging sign. These data points show the divergent views of the economy and markets which is an argument as to why one should always be balanced in their investment approach