In this market commentary, the presenter reports that positive vaccine news—specifically Pfizer/BioNTech trial results showing 90% efficacy and no serious safety issues—has sparked a broad rally across global equity markets. The S&P 500 broke through 3,600, reaching a new all‑time high of 3,651.25, while the German DAX jumped 750 points. At the same time, gold prices fell sharply, the U.S. 10‑year Treasury yield dropped more than a full point, and WTI crude oil surged over 7% toward $41 per barrel. The Nasdaq, however, lagged the rally due to a short‑term rotation out of mega‑cap tech names that had previously benefited from the pandemic environment. The presenter cautions traders against entering the move late, recommending patience until the New York Stock Exchange opens. He also promotes further, real‑time coverage on Amplify Live, where trades will be discussed throughout the US market open.
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Okay, hi guys, just had some breaking news come out in regard to the vaccine. Uh, just gonna jump straight in at the charts. You can see here DAX on the left now up 750 points. The S&P 500 has smashed through 3,600, and in fact, in terms of the S&P 500 here, now we are in all-time high territory. We've broken through that peak that we saw at the beginning of September, and we've just printed up now at 3651.25. So fresh all-time highs now in US indices. Gold getting hit, and also the US 10-year down at the bottom corner here as well, under quite a lot of pressure. Here you can see the US 10-year has fallen the best part of a full point. In terms of gold prices, we've also come under extreme pressure here, breaking through that key support level we're looking at this morning. So you've seen a decent 65 type dollar move now in gold futures. And WTI crude spiking more than 7% at the upside to get close to $41, which was the high that we saw back up at around mid to late October. Why is all this happening? Vaccine news has just come out, and here it is. Here are the headlines: Pfizer vaccine prevents 90% of COVID infections in a large study is being reported on the financial newswires. Pfizer and BioNTech vaccine 2-month safety data is due in about a week. And phase 3 trial shows no serious safety issues. The market is loving these headlines. Person who's not, of course, is Donald Trump, because after the market rally last week led by the Biden victory and the kind of split Congress and the notion of probably a lack of real fast change on any policies coming through from Biden, now there's positive vaccine news. So interestingly, when you're looking at these charts, the one equity index which is underperforming this move is the NASDAQ. If you look here, the NASDAQ momentarily spiked up and has started to sell off, and it's sold off here to quite a key technical level we're looking at this morning. You can see from this rectangle I've had marked up from the previous highs that were going into the election to the gap up that we saw at the recommencement of trade overnight. We've come back and touched that level before a bit of a bounce. Reason why the NASDAQ is bucking the trend, obviously these big mega-cap tech names tend to benefit from a pandemic situation over the rest of the broader market. They're just better equipped for that type of environment, as we've seen since the onset of the pandemic right at the back of the beginning of the year. This is what— in context of that phenomenal run-up we've seen the Nasdaq, of course, outperform, led by those big-cap tech names. Then a little bit of unwinding of that trade intraday makes sense on the back of those headlines. So I don't think this changes the longer-term picture. I still think tech is looking good. For the foreseeable future. But in the day trading environment, certainly short-term rotation out of some of those tech names fueling elsewhere then the likes of the S&P and so on. Oil's arguably seen the biggest move, of course, as we just saw, more than 7% rally. It's found a bit of resistance around that previous price points of significance around just shy of the $41 handle in the futures. So yeah, breaking news, just wanted to share that with you. We're going to be covering it in extensive detail throughout throughout the rest of the session, particularly the US Open, on Amplify Live. So check out the link in the description of the video if you're seeing it there, and you can listen to us commentate over this and share the trades that the guys are doing in real time. That's it. Enjoy the rest of your day. And yeah, another positive development for markets and for Joe Biden, it would appear on the surface. I guess the final thing I would say is just be careful if you're just coming in and seeing this move late. Don't get caught trying to just trade into a move that's already largely developed, um, because you could be chasing something where the move's already, uh, kind of happened at this point in time. I'd say better thing to do is just wait. Now let's wait for the US Open in a couple of hours, and let's see what happens at the open on the New York Stock Exchange later. Okay guys, have a good day.
