In more ways than one. Everyone but Donald Trump decided Joe Biden will be our next President and you would have throught they killed the Wicked Witch of the West the way American cities were partying this weekend as swing state after swing state swung against President Trump.
Better late than never and just as I predicted back on September 28th, Pfizer (PFE) has come up with a 90% effective vaccine for Covid! That’s about as good as it gets with a vaccine and it’s more than enough to get things under control in the coming year so, if all goes well – this Christmas is still cancelled but, by next summer, things could be back to more or less normal and that is certainly worth celebrating.
The markets are celebrarting with a 5% jump in the Dow, up 1,400 points to 29,683 and the S&P has flown up to 3,635 – up 133 (4%) points from Friday’s close. The already pumped up Nasdaq is red as people getting out of the house is not actually good for Amazon (AMZN), Alphabet (GOOGL), Netflix (NFLX) and all those other stocks that were benfitting from our long imprisonment.
The small-cap Russell index is so happy that it’s blasted up 7% (and got halted) this morning, breaking an all-time high as it looks like the shoppers will return to Main Street to eat, drink and be merry once again. Ding-dong indeed! Airlines are up 20% this morning – that’s crazy! Of course, I predicted that too, on October 8th, when we put the Airline ETF (JETS) in our Future is Now Portfolio, saying:
JETS is the US Global Jets ETF and it’s got LUV, DAL, UAL, AAL, ALGT, CJT, AC, ALK, JBLU and ATSG as it’s top holdings. As we discussed in the Webinar yesterday, we’re about a year away from herd immunity, vaccine or no vaccine and the airline industry is vital to our national