Your Wednesday Blip 7/15/20

Your Wednesday Blip 7/15/20

This is a “vaccine optimism” rally. Stocks gained as more positive vaccine news came out this morning pushing healthcare stocks into a market leadership position. At the close the Dow was 227 points higher on heavy trading to close at 26,870. During the day the Dow had briefly crested 27k mark which is a resistance level.
Shares of biotech Moderna bolted higher after the company released data that showed its potential coronavirus vaccine produced a “robust” immune response in all 45 patients in its early human trial. The Oxford Covid -19 vaccine had generated the antibody response that researchers were hoping to see and as a result trials will continue ramping up.
Shares of Apple were up after the company won a court case against the European Union related to taxes. The EU court’s ruling in Apple’s favor will save the company from paying 13 billion euros in back taxes.
In the “out of the box” thinking category Brookfield Property signed a deal with entertainment company Kilburn live to turn mall parking lots into drive-in theaters, outdoor dining areas, food courts and other venues in an efforts to offer options for people who are cooped up to get out and for mall operators to attract business since being outside is the favored way to do things these days.
Yesterday a Troop 100 scout did phase one of his eagle project which was a food drive for the local Ballard Food Bank. After handing out 1,000 grocery bags in the Ballard neighborhood the return rate was about 40% and after delivery the food bank said they had received 4,600 pounds of food worth about $10k if purchased in a grocery store. The scout running the project had hoped for a 10% return rate so the results exceeded his expectations. A good time was had by all and the food bank was ecstatic.