Dow Jones futures turned higher Wednesday morning, joining S&P 500 futures and Nasdaq futures, after Pfizer (PFE) said three doses of its coronavirus vaccine neutralize the omicron variant. Tesla China sales and exports also were in focus.
On Tuesday, the stock market rally attempt continued with strong gains for a second straight session, as omicron variant fears fade.
The Nasdaq and S&P 500 had their best gains since March, as Apple stock, Nvidia (NVDA), Tesla (TSLA), Microsoft (MSFT) and Google parent Alphabet (GOOGL) helped lead the advance. Apple (AAPL), Tesla and Nvidia stock had the bigger percentage gains, but MSFT stock and Google offered entries.
However, Tuesday was a broad-based advance. Energy names were among the strongest performers. Shipping-related firms were strong. Retail, financial and housing-related plays had solid gains.
While aggressive traders could choose to take some pilot positions, the stock market rally attempt has not yet been confirmed.
Pfizer Vaccine Vs. Omicron Variant
Pfizer said early Wednesday that three doses of its coronavirus vaccine neutralize the omicron variant, much like two doses handle other Covid variants. It added that two doses provide significant protection vs. severe illness. Late Tuesday, a small study in South Africa suggested that the Covid variant partly eludes two shots of the Pfizer and BioNTech (BNTX) vaccine.
Pfizer’s CEO told CNBC that a fourth dose may end up being necessary. Pfizer and BioNTech is still working on possible vaccine tweaks to target the omicron variant specifically. Moderna (MRNA) also is doing so. Pfizer stock edged higher in premarket trade. So did BioNTech. Moderna fell slightly.
Tesla China Sales
The China Passenger Car Association released Tesla China sales and exports Wednesday morning, along with industrywide EV and overall auto sales. Tesla Shanghai sold 52,859 vehicles in November, including 31,732 locally and 21,127 exported. Most of those exports are going to Europe. Tesla Shanghai exports most of its production in the first month of a quarter and much of it in the second month, such as November. The much-delayed Tesla Berlin plant should …….