Markets Stage Major Rally But the Recent Standouts Sit Out

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 9 November 2020

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks hit record highs during the day but closed at session lows, with the Nasdaq falling more than a percent. Is this a sign of strength for the market? Plus reopening or stay-at-home -- which trade is here to stay?

Transcript

Click on a timestamp to play from that location

0:00.0	The state home trade taking a big breather today. Do any of these names have staying power?
0:04.7	The traders make their picks.
0:06.3	And we'll be joined by Michael Burns, the vice chairman of Lionsgate, has today's news
0:10.0	breathe new life into the box office. ask him we start off with the news that
0:13.8	send stocks higher today positive results from a COVID vaccine trial
0:17.4	Meg Terrell got all the details nag
0:19.8	hey mollissal these results were so much better than anybody expected.
0:25.0	Analysts were modeling maybe a 75% efficacy if all went really well.
0:29.1	Melissa, we got 90% of efficacy with this trial and this COVID vaccine from Pfizer and its German partner
0:35.3	Biontag.
0:36.3	Now this is a 44,000 participant trial and the way they measure efficacy in one of these studies
0:41.0	is they look to see how many cases of COVID they see in the
0:44.1	trial and they want to see more cases in the placebo arm than in the vaccine arm to
0:48.7	show that the vaccine is protected and that's what they saw to the tune of 90% efficacy.
0:54.0	Now they also said they saw no serious safety concerns in the trial
0:57.0	and they're going to now proceed to the end of the two-month
1:01.0	a safety follow-up window required by the FDA before they would seek
1:04.9	emergency use authorization. That will happen next week. So after that we could
1:10.0	see them proceeding with filing for regulatory clearance. Now there are still
1:14.9	questions remaining about this vaccine. This was just top line data saying
1:18.8	it looks like the vaccine works and it looks to be safe. But there are still
1:22.1	questions about does it prevent severe
	...

Transcript will be available on the free plan in -1600 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.