There’s a scene in the classic children’s favorite Willy Wonka and the Chocolate Factory where protagonist Charlie sips on the forbidden fizzy lifting drink. What comes next: giddiness and a literal, bubbly elevation up to the factory rafters. It ends well back on solid ground. We can relate to those highs and lows!
In just the past week, so much has happened for Americans. Three pharmaceutical companies have disclosed delightfully high efficacy rates amid respective trials of their COVID-19 vaccines: Pfizer, Moderna, and Astra-Zeneca. Pfizer Inc. and BioNTech SE submitted their request to the U.S. Food and Drug Administration (FDA) for Emergency Use Authorization (EUA) of their mRNA vaccine candidate, BNT162b2 against SARS-CoV-2. Now under review, this would potentially enable use of the vaccine in high-risk populations in the U.S. by mid to late December, just a month out!
Following the 2020 presidential election, President Elect Joe Biden patiently awaited any signs of a concession, and watched uncertainty swirl amid litigation and recounts. Last night, the General Services Administration finally moved forward (with President Trump’s encouragement) for a presidential transition. Key states certified Biden’s victory in the presidential election. The news that Janet L. Yellen would become the next Treasury buoyed hope for government spending to aid the economy; she is cited for her strong coordination of fiscal and monetary policy. And today in the stock market, the S&P 500 and Dow soared.
The S&P 500 rose 1.6 percent, passing early November’s high. The Dow Jones industrial average topped the 30,000 mark for the first time ever, beating recent records. Any political uncertainty clouding investors’ confidence has diminished. The encouraging developments in the race for a coronavirus vaccine are allowing people to focusing on momentum toward normal economic growth next year. Company shares of cruise lines, airlines and casino operators perked up with the news of vaccination progress as well.
All this news gives us justifiable permission to visualize a return to normalcy in the near future. Prosperity is already showing its potential in financial markets this week. We are resilient, patient and ready adapt with whatever changes the future market presents.
Our goal at Juniper is to help you achieve quality real estate investments throughout the Pacific Northwest. Juniper Capital provides private real estate financing, including hard money loans for commercial, construction, multi-family residential opportunities and more. If you would like more information on this topic, call us today.