On this day, on the New York Stock Exchange (NYSE), the Dow index closed at 33,409.56, up 73.89 points (0.24%) from the previous year. The S&P 500 index increased 5 points (0.13%) to 3732.04, and the NASDAQ index increased 19.78 points (0.15%) to 12,870, respectively.
In this chapter, shares of AstraZeneca in the biopharmaceutical sector and Tesla in the electric vehicle sector showed an uptrend.
AstraZeneca’s share price rise is deeply related to the British government’s announcement on the 29th (local time) that it will approve a corona vaccine jointly developed by AstraZeneca and Oxford University. This announcement by the UK government is interpreted as raising the sentiment of preference for risky assets around the world. In fact, the stock price of AstraZeneca rose 0.56% on the same day. AstraZeneca vaccine is known to be advantageous in large-scale vaccination because it is easy to distribute and store and is inexpensive.
On the same day, Tesla shares rose 4.32% to $694.78. This exceeds the $655.41 achieved on the date of incorporation into the S&P500 index. It is observed that Tesla’s share price rise was positively influenced by Dan Ives, an analyst at Weedbush Securities, that’we can achieve 500,000 units (selling) of (electric vehicles) this year.’ Analyst Ives said, “By the end of the year and 2021, electric vehicles are expected to increase from 3% of current total car sales to 10% by 2025, and global demand for electric vehicles is changing significantly.
Meanwhile, experts on the New York Stock Market predicted the rapid recovery of the economy next year following the spread of the corona vaccine.
Brian Demin, portfolio manager at Janus Henderson, said, “So far, the leading sector of the economy has been confined to the digital economy.”
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