It was a big day on Wall Street Monday.
Local financial advisor Howie Pentony explains.
“We had a lot of enthusiasm. And when we have enthusiasm, markets tend to do pretty well,” Pentony said. “It was enthusiastic for a couple of things but number one was Pfizer’s announcement that they believe they have found a vaccine, and that it could be available pretty soon.”
Pentony says the coronavirus has a major influence over the stock market, so the vaccine was welcomed news to investors.
“This market has been so overwhelmed by COVID everyday,” Pentony said. “When you get an announcement like you got from Pfizer, I think that gives everyone confidence. Even though we have a long way to go, it’s better than not having any vaccine possibilities. That’s a good thing.”
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Overall the market climbed by three percent yesterday.