Financial Markets Update
Global equity markets continued their climb of last week thanks to the positive news of a second vaccine candidate showing remarkable efficacy. This was halted mid-week due to increased Corona virus concerns. It is a balancing act. One the one hand you have promising vaccines in the pipeline and on the other hand you have record breaking Corona virus infections. Despite these counteracting forces, the Dow Jones Industrial (DOW) managed to hit all time high this week while the S&P is having its best November since the 1927. Investors are increasingly putting capital in beaten-down sectors such as energy, travel, and transport. Emerging markets and small-cap stocks has been outperforming as well. An EUA approval for Pfizer & BioNTech and/ or Moderna is likely to send markets soaring again. It is truly an interesting time to be in the market.