In this week’s recap, we talk about the effects in the markets of the announcement of the Pfizer-BioNTech new covid vaccine and also the unofficial election results published by the press that makes Biden the new president of the United States.
The total value of the stock markets globally just hit an all-time high of $95T as of Wednesday. Stocks’ latest run to new highs was triggered by surprise news that Pfizer & BioNTech coronavirus vaccine was more than 90% effective. However, the largest driving force behind the 7-month rebound, has been global central banks’ unprecedented easing measures & governments’ huge fiscal stimulus.
Mexican President Andres Manuel Lopez Obrador is retaining his position, as one of the few leaders of a major country, that has failed to congratulate former V.P. Joe Biden on his supposed U.S. presidential election win, saying it was too early & that his country was “not a colony”.
Pro-democracyy opposition lawmakers in Hong Kong stated on Wednesday they will resign in protest, against the dismissal of 4 of their colleagues from the city assembly, after Chinese officials in Beijing, gave local authorities new political powers, to further curb dissent.
U.S. President Trump signs an executive order banning Americans from investing in Chinese firms, that the administration says are owned or controlled by the Chinese military. It applies to 31 Chinese firms, which it says benefit China’s military. Huawei, Hikvision, China Telecom & China Mobile are among those blacklisted.
The Armenian parliament on Wednesday failed to discuss the Prime Minister’s resignation, that is being demanded by 1000’s of protesters over a Tuesday ceasefire, that ended 6 years of fighting but secured territorial advances for Azerbaijan in Nagorno-Karabakh. It is being celebrated as a victory in Azerbaijan.
The city of Orlando, Fla., & German aviation startup Lilium have unveiled plans to build the 1st hub for flying cars in the U.S. The $25M, 56K-square-foot transportation hub, called a vertiport, is scheduled to be completed in 2025. Electric-powered aircraft, still in the developmental phase, will take off & land vertically from the ground-based hub & reach a top speed of 186 mph.
Weak dollar boosts global stocks; One of the biggest diamonds ever found has been unearthed in Botswana; 90%-Effective Vaccine skyrockets Pfizer and BioNTech shares.