Pfizer Develops Pill to Fight COVID-19 – Closing Bull Nov. 5th, 2021

Quick Summary:

In this week’s Closing Bull, the Fed finally approved plans to start scaling back on stimulus, corporations are being In this week’s Closing Bull, the Fed finally approved plans to start scaling back stimulus; corporations are being forced to get their employees vaccinated. Also, Kroger, America’s largest grocery chain, is investing in grocery robots to fulfill customer orders. Despite US pressure, OPEC is not budging on production, October’s job report is in, and Pfizer creates a new pill against COVID-19.

Let’s get into the news!

Key News This Week:

Market recap

Fed report and refresher

Corporate pushes employees to get vaccinated

Grocery chain Kroger invests in robots

Oil prices are rising

October jobs report

Pfizer develops an 89% effective oral antiviral pill against Covid

Read the Transcript

Welcome to my financial markets’ re-cap for the week.

Before we get to the news, a quick update on the system. I mentioned last week that we were still in a long trade, well, we are STILL long, and low and behold this has so far turned out to be the biggest trade of the year.

We still have some days to go, and this is what makes trading so difficult when you have a profit, you want to take it, well when you have a huge profit, which I and all the ComhlaTech members have, you really want to cash that baby out.

But rules are rules, and as they say, and I include myself in this, system work, people don’t!

And that is even starker in trading. So, a heartfelt congratulations to everyone in this monster, and let’s hope for a little more before we cash out.

So that was the system update, what was the news this week?

There were a few big news items this week:

Starting with the Fed Report on Wednesday:

The Fed finally approved plans to start scaling back its economy-boosting bond-buying program. The Fed will start this month, buying $15B less in bonds — and will end bond purchases altogether by June 2022, however, considering the Fed is reducing just 15B against the 120 billion it has been spending every month, it’s a small move and surprised investors and caused a further rally in stocks.

As a quick refresher:

• The Fed buys bonds from banks, and that cash flows through banks to consumers and businesses via loans. More money in the system = more investments, and the number one place to invest is the stock market.

• All that new cash helped bring us ultralow interest rates, which made borrowing easier and boosted spending — but also contributed to rising prices.

Which is what we are starting to see now in inflation reports, food prices, and at the pump.

So, yes, they are finally tapering, but, well, not by much, a very bullish sign for the market.

In other news, there is a big corporate push to get workers vaccinated in the US. Yesterday, Biden said private employers with 100 workers or more have until January 4 to ensure their employees are fully vaccinated — or make sure they get weekly testing. The plan covers a whopping 84M workers. Otherwise, the corporations may be fined up to $14,000 per employee that is unvaccinated. I assume that Canada will follow suit shortly. Whether you pro-vax or otherwise, that’s a pretty aggressive stance Biden has taken.

Not as aggressive as China though, On Sunday, a woman who had visited Shanghai Disneyland tested Covid-positive somewhere else.

Cue China, they immediately locked over 30K Shanghai Disneyland visitors and staff inside the park. Visitors were forced to get tested before being released from Mickey’s house before midnight. Not such a fun Disney experience for the poor kids, bless them.

In other news, Kroger, America’s largest grocery chain is investing in grocery robots to fulfill customer orders and even have drivers take them to your door. They have built a gigantic brand-new robot-powered warehouse that’s nearly the size of eight football fields, so they are committed to this being the way we shop in the future…by, well…no longer shopping!

Oil powerhouse OPEC said it was sticking to plans to ramp up global production by 400K barrels a day starting next month, despite the US calling for more. The price of oil has gone up a lot this year, and the US was hoping to convince them to increase production to ease supply and therefore decrease the price of oil.  But they are a law unto themselves those guys at OPEC.

Today the jobs report for October said the economy added 531,000 jobs last month with the unemployment rate also coming down to 4.6%, boosting expectations which were already lofty.

And lastly, the best news of them all. Pfizer reported today that it has developed an 89% effective oral antiviral pill against Covid. Stating that in their initial trials, it has proven to dramatically reduce hospitalizations and deaths in those suffering from Covid 19, very welcome news indeed!

Go Pfizer!

That’s it from me, it’s the weekend, time to down tools, have a great weekend, thanks for watching and bye for now.

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