The main Wall Street indices reached record highs since the very positive data on the number of jobs in October came out on Friday, combined with the update of Pfizer's COVID-19 pills, which strengthened the sentiment towards economic growth.
Of the main 11 S&P sectors, 10 grew and each of them added 1%.
The Russell 2000 small capitalization index (RUS) added 1.6%, also reaching a record peak.
According to the report of the Ministry of Labor, it can be seen that US employment in October increased more than expected. However, the shortage of workers stimulated wage growth, with the annual hourly wage increasing to 4.9% in October.
Merck (MRK.N) shares fell 9.6%, dragging
- the S&
Meanwhile, Pfizer Inc (PFE.N) rose 7.9% after an experimental antiviral pill from COVID-19, developed by a drug manufacturer, reduced the risk of developing a serious illness by 89%.
After Pfizer announced the release of experimental pills, shares of travel companies rose sharply:
- the S&
However, managing director of New Vines Capital LLC in Bernardsville, New Jersey Andre Bakhos said that it's too early to say that the COVID-19 pill has made a global turning point in many industries: such as transport, recreation, despite the fact that this is already reflected in prices.
Expedia (EXPE.O) surged 14.5% among the revenue-driven movements after the online travel agency reported good revenue in the third quarter, while Pinterest Inc (PINS.N) rose by 7.1% on the back of a strong revenue forecast for the fourth quarter.
The excellent reporting season for the third quarter, combined with an optimistic forecast of profit growth, as well as the reluctance of the central bank to raise interest rates, has recently increased investor interest in stocks.
On Friday, President Joe Biden urged U.S. lawmakers concerned about rising inflation to pass bills on infrastructure and domestic spending, which are currently under consideration by the House of Representatives.
