Last week, Bloomberg reporter Jennifer Jacobs wrote about on a big jump in Pfizer futures, citing the election of Joe Biden rather than the news that Pfizer’s vaccine was found to be 90 percent effective.
— Jennifer Jacobs (@JenniferJJacobs) November 9, 2020
Jacobs, who is senior White House reporter for Bloomberg, failed to note that markets had already accounted for the election – +300 points following the election, as compared to +1100 following the vaccine news. Meanwhile – also likely a result of the vaccine news – stock fell for companies that have thrived during the pandemic, including UPS, Peloton and Amazon.
Hi there. Futures went up because of the vaccine announcement, giving the market a feeling that things can open back up. Meanwhile, Amazon and other services that spiked during this time of working from home are going down. pic.twitter.com/59K8XVuetf
— K (@kayenmo) November 9, 2020