Echoes from Monday’s encouraging news about a vaccine continue to ripple through the world – and the markets.
To recap: Drugmaker Pfizer and its partner, BioNTech, announced Monday morning that their Phase III coronavirus vaccine trials indicated a strong 90% efficacy rate with minimal instances of side effects. We’re not out of the woods yet, but good news is good news.
Few things are as encouraging as a glimpse at the light at the end of the tunnel. Pharmaceutical makers Pfizer and BioNTech announced Monday morning that their coronavirus vaccine has shown strong results through ongoing drug trials – a 90% efficacy rate with minimal side effects. This news immediately gave lift to the markets, adding another historic moment to a year chock-full of them.
It’s said markets hate uncertainty, but that wasn’t the case last week.
Despite tremendous uncertainty about the outcome of the United States election, major domestic and international stock indices moved higher and the CBOE Volatility Index, better known as Wall Street’s fear gauge, moved 35 percent lower.1 Ben Levisohn of Barron’s reported:2
Lynn Phillips-Gaines, CERTIFIED FINANCIAL PLANNER™ Professional, of Phillips Financial was recently named to multiple national top financial advisors lists. These are prestigious national rankings that spotlight elite advisors across the country who were nominated by their firms – and then researched, interviewed, and selected to receive the honor. Those honors include:
- Forbes 2020 Best-in-State Wealth Advisors* (third consecutive year)
- Forbes 2020 Top 200 Women Wealth Advisors** (fourth consecutive year)
- Barron’s 2020 Top 1200 Financial Advisors List*** (fifth consecutive year and includes recognition in The Wall Street Journal)
Career milestones such as these would not be possible without continued trust and support by the clients her team serves.
Phillips-Gaines joined the financial services industry in 1982, opened her own practice in 1984, has nearly forty years of experience, and manages over $200Million in client assets.