Financial Associated Press (Shanghai, Editor Qi Lin/Intern Editor Yang Fan), the U.S. Food and Drug Administration (FDA) on Monday fully approved the new crown vaccine developed by Pfizer and BioNTech. This is the first new crown vaccine to be approved by the FDA. This move brought about a chain reaction in the financial market, causing the Nasdaq Index to soar to a record closing high, and the Asia-Pacific stock market also rose. Affected by the expected demand, oil prices also rose.
According to the latest clinical trial and production evaluation data of the two companies, the FDA approved the two-dose vaccine for full use authorization for people 16 years and older. Previously, the FDA only granted emergency use authorization for this vaccine.
A few hours after the vaccine was officially approved, US President Biden urged Americans to get vaccinated in a speech. He reiterated the safety and effectiveness of the vaccine injection.
Edward Moya, senior analyst at OANDA, said, “Since the FDA has sent a clear signal, some minority groups’ suspicion of vaccines may stop.” This is expected to significantly increase the vaccination rate in the United States, allowing people to accelerate their return to work. , Plays an important role in boosting market sentiment, thus stimulating the rise of US Wall Street stock prices.
Nasdaq hit a record high
As the FDA fully approved the vaccine to boost market sentiment, the Nasdaq Index hit a record closing high on Monday, and the three major US stock indexes closed higher.
The Dow Jones Industrial Average rose by 215.63 points, or 0.61%, to close at 35,334.71; the Standard & Poor’s 500 Index rose by 37.86 points, or 0.85%, to close at 4,479.53 points; the Nasdaq Composite Index rose by 227.99 points, or 1.55%, to close at 14,942.65 Point.
The ratio of rising stocks to falling stocks on the New York Stock Exchange is 2.46:1; on Nasdaq, the ratio is 2.81:1, and the advantages of rising stocks are even more obvious.
The constituent stocks of the Standard & Poor’s 500 Index hit 57 52-week highs and 1 new low; the Nasdaq Composite Index constituent stocks hit 108 new highs and 54 new lows.
Asia-Pacific stock markets rose significantly
This Tuesday, affected by the approval of the vaccine and the surge in US stocks, the Asia-Pacific stock market rose sharply in Tuesday’s trading.
Hong Kong’s Hang Seng Index soared 1.65%, and the Hang Seng Technology Index rose 3.38%. Chinese technology stocks rebounded sharply. Internet giant Tencent’s share price rose 3.32%, Meituan’s share price soared nearly 7%, and Alibaba’s share price rose 4.34%.
Oil price rebound
With the increase in vaccination rates, the resumption of work is imminent, driven by the increase in demand, the price of crude oil has soared, and energy stocks are in a leading position.
As of 12:54 Beijing time, Brent crude oil futures rose 21 cents, or 0.3%, to US$68.96 per barrel, and US West Texas Intermediate crude oil futures (WTI) rose 14 cents, or 0.2%, to US$68.96 per barrel. The barrel is $65.78.
According to a preliminary investigation published by the media on Monday, the US crude oil and gasoline inventories may have fallen last week, while distillate oil inventories are expected to increase, which will play an important role in boosting prices.
With the rebound in fuel demand, Indian oil refineries’ crude oil production in July rebounded to their highest level in three months, stabilizing crude oil prices at a high level.
The US Department of Energy announced on Monday that it plans to sell up to 20 million barrels of oil from the Strategic Petroleum Reserve, twice the amount it was more than three months ago. The oil will be delivered in the fourth quarter, when the demand for gasoline and other fuels in the US market will generally decline.