Stock Market Live Updates Monday: Stock Market Futures Launch Major Rally

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Welcome to the start of the week! The biggest news to watch today comes from the weekend, when multiple news outlets called the U.S. presidential race in favor of former Vice President Joe Biden. Keep an eye out for a Democrat-driven rally in the stock market today.

Latest Updates:

  • Cowen: Buy Solar Stocks Despite Divided Congress
  • Pfizer Pops on Coronavirus Vaccine Trial Results
  • Dow Adds 1,500+ Points to Start Trading
  • Stock Market Futures Launch Major Rally Monday

  • Cowen: Buy Solar Stocks Despite Divided Congress

    [Monday, November 9, 10:21 am]
    Contributed by Sarah Smith

    Last week played out a little differently than many investors predicted. Former Vice President Joe Biden did claim the White House, but Democrats did not pull off a major sweep in Congress. While some seats are still up for grabs, it looks like Republicans could maintain control of the Senate. What does that mean for the stock market? According to analysts at Cowen, solar stocks look particularly hot. Although a gridlocked government could weigh on sectors like cannabis, Cowen believes that solar power offers benefits to both Republican and Democratic states (subscription required).

    Essentially, while talk of a Green New Deal may turn off conservative lawmakers, job creation is a different story. If Biden steers the U.S. toward a solar ramp up, even Republican states could benefit from new jobs and new industry.

    With that in mind, here are seven of the best solar stocks to buy now:

    • First Solar (NASDAQ:FSLR)
    • Sunrun (NASDAQ:RUN)
    • SunPower (NASDAQ:SPWR)
    • Sunnova (NYSE:NOVA)
    • SolarEdge Technologies (NYSE:SEDG)
    • Canadian Solar (NASDAQ:CSIQ)
    • SPI Energy (NASDAQ:SPI)

    Pfizer Pops on Coronavirus Vaccine Trial Results

    [Monday, November 9, 9:56 am]
    Contributed by Sarah Smith

    Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) are largely responsible for the rally in the stock market today. How? The pharmaceutical duo released very promising results from their large-scale novel coronavirus vaccine trial. Here is what you need to know:

    • Pfizer and BioNTech have been working together on a vaccine candidate for the novel coronavirus, and the duo has largely led the way.
    • Today they shared early results from their late-stage, large-scale human trial.
    • Those results suggest the vaccine candidate is 90% effective in preventing Covid-19.
    • From here, Pfizer and BioNTech will continue to ramp up the trial and will soon seek emergency-use authorization from the U.S. Food and Drug Administration.
    • The vaccine candidate would also be the first mRNA vaccine to receive such FDA approval.
    • For more, read the InvestorPlace.com brief on Pfizer stock here.

    Dow Adds 1,500+ Points to Start Trading

    [Monday, November 9, 9:31 am]
    Contributed by Sarah Smith

    • The S&P 500 opened higher by 2.84%
    • The Dow Jones Industrial Average opened higher by 5.43%
    • The Nasdaq Composite opened higher by 1.25%
    • The Russell 2000 opened lower by 0.96%

    Stock Market Futures Launch Major Rally Monday

    [Monday, November 9, 9:02 am]
    Contributed by Sarah Smith

    What a way to start the week! Investors now know that former Vice President Joe Biden will be the next president of the United States. They also know that a novel coronavirus vaccine candidate from Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) is as much as 90% effective. As coronavirus cases and hospitalizations continue to surge around the country, this news will go a long way in restoring confidence and bullish sentiment.

    Here is a look at stock market futures:

    • S&P 500 futures are up 4.45%
    • Dow Jones Industrial Average futures are up 6.10%
    • The Nasdaq Composite futures are up 1.21%
    • Russell 2000 futures are up 7%
    • Gold is down 3.92% to $1,875.10
    • Bitcoin (CCC:BTC) is up 0.08% to $15,283.85
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