Diamonds and Dogs

9/20/21

Pfizer (PFE) releases positive data. Pfizer is modestly higher as their Covid-19 vaccine was safe and produced strong antibody responses in children ages 5 to 11 in a large-scale trial, paving the way to begin vaccinating grade-school kids in the future. On Friday, the FDA unanimously backed Pfizer's vaccine for a third dose or booster for people 65 and over, as well as those at high risk of severe complications.

Real Estate developer, China Evergrande could default on $300 billion in debt causing a snowball effect on slowing the Chinese economy and other parts of the world. Companies that do business in China like Caterpillar (CAT) is down 5%, Deere (DE) is down 3% and Wynn Resorts (WYNN)  is down 4%.