U.S. Stocks Move Back up after Inflation Data

Stocks in the U.S. market moved amid optimism that companies can move on from the supply-side crisis and central banks will keep interest rates low 

The S&P 500 climbed, led by technology and industrial stocks. Tesla fell once again after Elon Musk tweeted out the idea of selling more of his shares.

  • Stoxx Europe is up by 0.14%
  • Dow Jones is up by 0.25%
  • NASDAQ is down by 0.08%

China to Vaccinate All Children Aged Three and Above by Year-End

China decides to fully vaccinate all kids aged between three and eleven against Covid-19 by the end of this year. It has already fully vaccinated more than 75% of its total population (105 crore people). For the last many weeks the country is focusing on giving boosters for adults and getting the initial shots for teenagers and kids. According to data released by China’s National Health Commission, more than 84 million kids aged 3 to 11 have already received at least one dose.

Pfizer Generates Comparatively More Antibodies, Study Says

According to a study in the journal Cell Host and Microbe, Pfizer Inc. and BioNTech SE’s Covid-19 vaccine has the strongest immune response compared to the other three vaccines selected for the study, Sinopharm, Sputnik V, AstraZeneca vaccines. The study was conducted in July among 196 fully-immunized people in Mongolia. The study does not provide details of intervals between doses, which may directly affect the number of antibodies produced.

Trading Starts at Beijing Stock Exchange

Today a total of 81 stocks started trading on the Beijing Stock Exchange, marking its official launch. The new exchange focuses on increasing investment for small and medium-sized enterprises (SMEs) that aren’t profitable enough to list on other Chinese markets. Out of these 81 companies, 10 companies that recently conducted initial public offerings (IPOs) on the new exchange rose as much as six-fold and made an amazing debut. The auto parts maker Henan Tongxin Transmission and quartz crystal component maker Anhui Jing Sai Technology jumped  511% and 255% respectively.

Heineken to Buy Distell Group Holding Distell and Namibian Breweries

The brewing company Heineken said on Monday that it has agreed to buy South African wine and spirits maker Distell Group Holdings and Namibia Breweries for 2.2 billion euros (Rs 18,686 crores) and 1.8 billion euros (Rs 15,289 crores) respectively. The takeover of Distell will brighten the wine and spirits portfolio of Heineken and it will sell Distell’s British-based Scotch whiskies.

Big Short’s Michael Burry Thinks Elon Musk ‘Just Wants to Sell Tesla’

Michael Burry is once again commenting on Elon Musk, saying that the Tesla Inc. CEO doesn’t need cash, he just wants to sell his company’s stock. “He doesn’t need cash. He just wants to sell $TSLA,” the investor made famous in “The Big Short” film said in a tweet. He also tweeted a chart of Tesla’s share price — last closed at $1,033.42 — with an arrow pointing to when Musk said that the automaker’s stock was trading “too high.”

Morgan Stanley Says Steer Clear of U.S. Stocks and Bonds in 2022

Stay away from U.S. stocks and bonds next year, and seek out better returns in Europe and Japan.

That’s the advice of Morgan Stanley’s strategy team, which sees fading monetary support and high valuations holding back American assets in 2022, even as growth improves and inflation moderates. Fundamentals are more attractive in Europe and Japan, where central bankers will be more patient and inflationary pressures are lower, according to the strategists in their annual investment outlook.

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