U.S. benchmarks settled-in after surging overnight upon positive Covid-19 vaccine news. The market often finds a silver lining to perform given this ultra-liquid zero interest rate policy world.

Moderna published the results of their Phase 1 trial late yesterday, it showed an immune response in all 45 patients with only minor side effects. Amid these bullish tailwinds, there are now expectations of good news to be announced surrounding Oxford University’s Covid-19 vaccine candidate backed by AstraZeneca.

U.S. benchmarks held ground overnight after reversing sharply on news California rolled back its reopening. both JPMorgan and Citigroup are trading higher after beats.

The FDA granted Pfizer and BionTech fast-track designation for their Covid-19 vaccine candidates. The news helped push the indices broadly out above their overnight ranges.

A record rise in Covid-19 cases domestically and underlying U.S.-China tensions certainly weighed on the risk-appetite. 

After a boisterous start to the week, fresh warnings of a slower global economy have pushed U.S. benchmarks on their backfoot. Even the great stocks are surpassing levels of near-term sensibility.

U.S. stocks got a boost from overnight price action in Europe and Asia, and continued higher after positive ISM and PMI numbers early this morning.

With a new quarter upon us and a holiday session Friday, it begs the question whether stocks will now see outflows. It would be smart for investors to reduce exposure, even marginally, and still be happy if the S&P marches to 3525 in the coming months.

U.S. benchmarks were roiled yesterday as Covid-19 cases surged by roughly 35,000, the most since April.

Companies including Verizon, Coca-Cola and Starbucks have either halted or plan to pause all social media advertising because platforms have “failed to stop the spread of hate.”