AllMarket Update
logoArgusNovember 23, 2020

Market Update: THRM, JBLU, UTI, LYFT

Sector(s)
Technology, Industrials, Consumer Defensive, Consumer Cyclical
Summary

Stocks rose on Monday morning on more positive vaccine news after AstraZeneca reported that its coronavirus vaccine candidate, developed with the University of Oxford, was 70.4% effective in preventing infection in late-stage trials. The vaccine may have even higher efficacy under a different dosing regimen and also has less stringent storage requirements than those developed by Pfizer/BioNTech and Moderna. On the economic front, IHS Markit reported stronger-than-expected readings in both its manufacturing and services indices for October. The Dow rose 0.7%, the S&P 0.4%, and the Nasdaq 0.1%. Crude oil rose nearly 1% to $43 per barrel, while gold dropped 2% to $1834 per ounce.

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