The NASDAQ soared nearly 264 points, thanks to a $234.87 move higher in shares of Amazon.com (AMZN). That move came after Goldman Sachs hiked its price target to $3,800.
According to Goldman, Amazon is poised to benefit from “accelerating e-commerce growth” during the COVID-19 pandemic, as quoted by Business Insider.
With tech stocks pushing higher, we could see a test of 11,000 on the NASDAQ quickly. As long as the tech bubble doesn’t pop, we may even see NASDAQ 12K this year.
Coronavirus stocks led markets higher, too.
BioNTech for example was up $2.95 on the day on news their vaccine was safe and induced an immune response in patients.
“The vaccine elicited high, dose level-dependent SARS-CoV-2-neutralizing titers and RBD-binding IgG concentrations after the second dose. Day 43 SARS-CoV-2 neutralizing geometric mean titers were in the range of 0.7-fold (1 µg) to 3.2-fold (50 µg) compared to that of a panel of SARS-CoV-2 infection convalescent human sera,” said a BioNTech release.
“Furthermore, sera of vaccinated subjects displayed broadly neutralizing activity in pseudovirus neutralization assays across a panel of sixteen SARS-CoV-2 RBD variants represented in publicly available SARS-CoV-2 sequences and against the newly dominant D614G strain,” it added.
We also got word that a potential vaccine from AstraZeneca (AZN) and Oxford University just cleared initial human safety tests. In fact, according to research published in The Lancet, the vaccine proved safe and produced two different immune responses to the virus.
“There is still much work to be done before we can confirm if our vaccine will help manage the COVID-19 pandemic, but these early results hold promise,” Sarah Gilbert, the Oxford professor leading the research on the vaccine, said as quoted by Business Insider.
We’ll speak again tomorrow. Until then, take good care.