--- title: Flash Market Update November 9, 2020 description: Recent news updates and how they could affect the market. Pfizer is making progress on a COVID-19 vaccine and media outlets have declared that Joe Biden has won the presidency. image: https://blog.artifexfinancial.com/hubfs/stock-market-3.jpg --- [![](https://blog.artifexfinancial.com/hs-fs/hubfs/artifex%20logo%20color%20copy.jpg?width=300&height=106&name=artifex%20logo%20color%20copy.jpg)](http://www.artifexfinancial.com) - [Home](http://www.artifexfinancial.com) - Personal Services - [Financial Planning](http://www.artifexfinancial.com/personal-financial-planning/-2-0) - [Wealth Management](http://www.artifexfinancial.com/wealth-management/-02) - [Business Services](http://www.artifexfinancial.com/biz-services) - [ESG / Impact](http://www.artifexfinancial.com/esg) - [About Us](http://www.artifexfinancial.com/about-us/-02) - [Doug Kinsey](http://www.artifexfinancial.com/dougkinsey2) - [Darren Harp](http://www.artifexfinancial.com/darrenharp2) - [Gerald Summers](http://www.artifexfinancial.com/jerrysummers2) - [Kevin O'Connor](http://www.artifexfinancial.com/kevinoconnor2) - [Alexander Browning](http://www.artifexfinancial.com/alexanderbrowning) - [Elizabeth Raby-Salinas](http://www.artifexfinancial.com/elizabethraby-salinas) - [Jansen Davidson](http://www.artifexfinancial.com/jansendavidson) - [Blog](https://blog.artifexfinancial.com) - [Contact](http://www.artifexfinancial.com/contact/) # Flash Market Update November 9, 2020 Posted by Byron Sanders - 09 November, 2020 - - - - - [mailto:?&subject=https://blog.artifexfinancial.com/flash-market-update-2&body=https://blog.artifexfinancial.com/flash-market-update-2](mailto:?&subject=https://blog.artifexfinancial.com/flash-market-update-2&body=https://blog.artifexfinancial.com/flash-market-update-2) ![header-picture](https://blog.artifexfinancial.com/hubfs/stock-market-3.jpg "header-picture") **November 9, 2020** Pfizer Corp. (NYSE‐PFE) announced early this morning that its Covid‐19 vaccine human trials have been 90% effective overcoming the virus in infected individuals. The news caused a virtual explosion in equity prices in Europe and in pre‐market futures trading in the US. **(1)** At this writing, roughly 20 minutes prior to the opening of trading, indications are that most benchmark indexes will open better than 5% higher across the board. European markets are currently trading better than 5% higher. If the gains hold through the close, US markets will end in new all‐time high territory. Over the weekend, media outlets declared Joe Biden has won the Presidency, which in some articles is being cited  as a contributing factor to this morning’s upsurge. Futures had been up roughly 1.5% overnight but jumped to much higher levels when the Pfizer news was released, just before 7 AM EST. Today will mark the beginning of the legal battle to determine the official winner of the Presidency amid allegations of voter fraud and digital manipulation of vote totals in up to five closely contested states. We expect the proceedings will ultimately reach the Supreme Court, which suggests final resolution of the election remains a future event. The underlying fact is that the US economy has been in a strong recovery since April and if the specter of Covid‐19 can be conquered by vaccination, stocks are likely to continue to trade higher. Valuations remain relatively low and corporate earnings over the past two quarters have been consistently higher than expectations. Coupled with strongly positive consumer sentiment, we can reasonably expect that this trend can be maintained into next year. Byron A. Sanders Investment Strategist **(1)** “Pfizer’s Covid‐19 Vaccine Proves 90% Effective in Latest Trials,” www.wsj.com, November 9, 2020. ©2020 Artifex Financial Group LLC Topics: [USA](https://blog.artifexfinancial.com/topic/usa), [markets](https://blog.artifexfinancial.com/topic/markets), [Covid-19](https://blog.artifexfinancial.com/topic/covid-19), [vaccine](https://blog.artifexfinancial.com/topic/vaccine), [update](https://blog.artifexfinancial.com/topic/update) --- ### Recent Posts By Doug Kinsey - 09 November, 2020 #### Don't Get Hooked: A Guide to Recognizing and Avoiding Phishing [![read more](https://cdn2.hubspot.net/hubfs/685080/IMG-TurboSodium/Sodium%20v2/blog/arrow-recent-blog-post.png "read more")](https://blog.artifexfinancial.com/dont-get-hooked-a-guide-to-recognizing-and-avoiding-phishing) By Doug Kinsey - 09 November, 2020 #### What's Going On With The Banks? [![read more](https://cdn2.hubspot.net/hubfs/685080/IMG-TurboSodium/Sodium%20v2/blog/arrow-recent-blog-post.png "read more")](https://blog.artifexfinancial.com/whats-going-on-with-the-banks) By Doug Kinsey - 09 November, 2020 #### Monthly Economic Update [![read more](https://cdn2.hubspot.net/hubfs/685080/IMG-TurboSodium/Sodium%20v2/blog/arrow-recent-blog-post.png "read more")](https://blog.artifexfinancial.com/monthly-economic-update) --- ## Welcome to the Artifex Intelliplan Blog ### Commentary on the world of finance, and other things We at Artifex believe in enhancing the wisdom of our clients and readers.  While most of our topics will be related to investments, personal finance, and the economy, we also endeavor to include thought-provoking commentary on topics that will help you expand your "mental models", as referred to by Charlie Munger and Warren Buffet. We want you to learn from us and others how to think logically and see the world through an informed lens. 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