NASDAQ and S&P are headed towards a higher open this morning, ahead of ADP's employment data for Mar. This is while Wall street's earning forecasts were revised down last week due to bing-spending slowing down with public restriction easing. The good news seems to be priced in the market, while the bad is yet to test the waters.
While Pfizer continues the good news, such as the 100% efficacy on children younger than 12 and bringing the hope of school opening from Sep, AstraZeneca seems to be disappointing. This is the continuation of Trump's efforts by pressurizing Europe. Trump's method was a fist fight, going after tariffs such as Germany's auto makers or France's wine. However, Biden's method is more difficult to blame because it's hard to evaluate and monetize the impact of such policies compared to the tariff's war. The propaganda on AstraZeneca has put a lot of doubt on recipient's minds that's obviously going to be painful for EU because if people are not vaccinated, the economy cannot rebound as quickly, depression and frustration over governments will kick in along with new strains, and the EU will be wasting a lot of efforts bringing back the norm. All of these is because AstraZeneca tested their vaccine when the number of contaminated people were sharply increasing while Pfizer has tested theirs in a more stable situation when new strains of the virus weren't as bad.
Paypal is finally allowing US citizens to trade in Bitcoin.
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Keep smiling and stay charitable.
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