Call Traders Respond to Pfizer's Big Win

Oil snapped its losing streak

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Schaeffer's Market Recap
8/23/2021
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Dow Logs Triple-Digit Surge After FDA Approves First Covid-19 Vaccine


By: Jake Scott

Indexes kicked off the week with a win, boosted mostly by reopening stocks and news that the U.S. Food and Drug Administration (FDA) officially approved the first Covid-19 vaccine. Specifically, the Dow tacked on 215 points, after the FDA approved Pfizer's (PFE) coronavirus vaccine, which the company developed with BioNTech (BNTX). The S&P 500 closed comfortably in the black, boosted by a surge in energy stocks, while the Nasdaq nabbed a new record close. Looking ahead, investors are awaiting this week's annual Jackson Hole symposium, with regards to the latest on monetary policy.

Continue reading for more on today's market, including:

  • Call traders respond to Pfizer's vaccine approval. 
  • How a new California ruling put pressure on ride-share stocks.
  • Plus, Boeing's big investment; Coinbase's crypto-fueled pop; and more on PayPal's service expansion plan.
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