It’s been just over a week since Pfizer announced that its COVID-19 vaccine was over 90% effective, well today the company said this percentage is increasing.
News released today from Pfizer and BioNTech stated that a further data analysis found their coronavirus vaccine was 95% effective in preventing the coronavirus.
Today’s announcement did not impact markets as it did last week, with the S&P 500 largely remaining flat, trading 0.28% lower as of writing.
Gold prices initially fell on the news, trading at an intraday low of $1,863, before regaining losses as the trading session progressed.
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FTSE gains, as UK Inflation increases
The FTSE 100 was marginally up today, as data released in the UK showed that consumer prices rose by more than expected.
Data from the Office for National Statistics showed that inflation rose by 0.7%, which is a small increase from the 0.6% expected in October.
This comes as the cost of clothing and food rose in the UK, as the COVID-19 pandemic entered its second wave, with cases reaching new highs.
Although markets are still awaiting news of a possible Brexit deal before seriously rallying, the FTSE 100 was up 0.31% today.
Oil stockpiles fall, price rises
According to figures released by the EIA, crude oil stockpiles rose less than expected last week, as oil demand continued to fluctuate.
The Energy Information Administration reported that Crude inventories rose by as much as 768,000 barrels, coming in lower than the markets had forecasted. Many had expected that inventories would show 1.65 million barrels.
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WTI Crude prices hit an intraday high of 42.44 on the news.
Quote of the day – “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”
Robert G. Allen
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