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Showing posts from March 31, 2021

Wednesday - Biden continues Trump's fight with EU through AstraZeneca

 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 ...