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The global markets were high on Biden and Pfizer - Monday Review, November 9

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Miguel A. Rodriguez
Miguel A. Rodriguez
10 November 2020
The benchmarks traded higher, boosted by both the US election and the potential COVID-19 vaccine

The US

Markets surged after Joe Biden claimed victory in the presidential election. Pfizer and BioNTech managing to develop a vaccine that’s 90% effective in preventing COVID-19 infection was another reason for the markets to celebrate. USA30 rose 2.95%, while USA500 was up 1.15%. TECH100 lost 1.5%.

Crude oil settled up 8.5% at $40.29 per barrel. Brent closed at $42.40 a barrel after it went up 7.5%.

Gold settled down 5% at $1,854.40 per ounce.

 

Asia and Australia

The benchmarks traded higher after Joe Biden won the presidential race against the current president Donald Trump. Moreover, the promising trade data for October that was released earlier increased the momentum.

HongKong45 gained 1.35%.

Japan225 jumped 2.16%.

Down under, Australia200 rose 1.69%.

 

Europe

The news that a vaccine against COVID-19 showed 90% effectiveness drove the markets higher. Joe Biden’s election contributed to the markets’ growth. Germany30 traded 1.9% higher. France40 rose 1.6%, while UK100 climbed 1.4%.

EUR/USD traded at 1.1867 after it lost 0.1%.

Sources: investing.com, reuters.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.