We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
Don't Know Your Password?
New to Zacks? Get started here.
Don't Know Your Password?
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
OK Cancel
Image: Bigstock
Zacks Equity Research November 08, 2021
BA PFE RCL MRNA AAL BKNG PTON 
Trades from $1
You follow Market News – edit
You follow Zacks Equity Research – edit
Benchmarks closed higher on Friday lifted by solid October jobs report and encouraging COVID-19 antiviral drug results from Pfizer.
The Dow Jones Industrial Average (DJI) rose 203.72 points, or 0.6%, to close at 36,327.95, lifted by 5.4% gain in shares of The Boeing Company (BA – Free Report) . Boeing carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The S&P 500 rose 17.47 points, or 0.4%, to close at a record high of 4,697.53 on Friday. 10 of the 11 major sectors of the broader index closed in the green led by 1.4% gain in the energy sector. Despite positive results from Pfizer Inc. (PFE – Free Report) , the healthcare sector failed to rise and closed 1% lower for the session.
The Nasdaq Composite Index closed at an all-time high of 15,971.59, after adding 31.28 points, or 0.2%, led by 7.5% jump in the share of Booking Holdings Inc. (BKNG – Free Report) . However, gains were capped by a 35.4% and 16.6% decline in shares of Peloton Interactive, Inc. (PTON – Free Report) and Moderna, Inc. (MRNA – Free Report) , respectively.
On Friday, the fear-gauge CBOE Volatility Index (VIX) increased 6.7%, to close at 16.48. Advancing issues outnumbered declining ones on the NYSE by a 2.16-to-1 ratio. A total of 11.5 billion shares were traded on the last day of the week, higher than the last 20-session average of 10.5 billion.
On Friday, vaccine maker Pfizer released a study of its COVID-19 antiviral drug, leading its shares to shoot up 10.9%. The data from a Phase 2/3 study of the experimental pill against COVID-19 are positive. It reduces chances of hospitalization or death for adults by 89%. The risk of developing the severe disease due to the deadly virus can be lowered and this news has added to the positive investor sentiments. Pfizer’s news boosted shares of airlines, hotels and restaurants. Shares of American Airlines Group Inc. (AAL – Free Report) jumped 5.8%, while Royal Caribbean Cruises Ltd. (RCL – Free Report) closed nearly 9% higher.
The U.S. Bureau of Labor Statistics reported on Nov 5 that the country added 531,000 in October, much higher than the consensus estimate of 442,000 and upwardly revised September figure of 312,000. Stronger-than-expected job additions last month helped the unemployment rate slid 0.2 percentage points to 4.6%. The government states that there have been solid job additions in leisure and hospitality, professional and business services, manufacturing, and transportation and warehousing spaces.
In total, the private sector added 604,000 new jobs last month, while there was a significant decline in jobs from the government. The report also presented upwardly revised job additions in August, up from 366,000 to 483,000. Additionally, average hourly earnings rose 0.4% in October and is now 4.9% higher in the last 12 months. While higher wages are adding to inflation and increasing the cost of living, the labor force is paying higher prices for rent, food, gas and transportation.
For the week ending Nov 5, the Dow, the S&P 500 and the Nasdaq added 1.4%, 2% and 3%, respectively. All the major benchmarks booked solid gains for the fifth consecutive week and the Dow had its longest winning streak since the week since 2019. During the week the Federal Reserve revealed plans to begin tapering aid that it gave during the pandemic, by the end of November.
The Boeing Company (BA) – free report >>
Pfizer Inc. (PFE) – free report >>
Royal Caribbean Cruises Ltd. (RCL) – free report >>
Moderna, Inc. (MRNA) – free report >>
American Airlines Group Inc. (AAL) – free report >>
Booking Holdings Inc. (BKNG) – free report >>
Peloton Interactive, Inc. (PTON) – free report >>
Which stocks will be November’s top performers? Zacks’ experts picked 7 stocks with the best chances of skyrocketing within the next 30-90 days. Each stock is a Zacks Rank #1 Strong Buy.
Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better. See the report’s 7 new picks today, absolutely FREE.
Privacy Policy No cost, no obligation to buy anything ever.
This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor’s Business Daily, Inc.; and Morningstar, Inc.
Copyright 2021 Zacks Investment Research 10 S Riverside Plaza Suite #1600 Chicago, IL 60606
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +25.35% per year. These returns cover a period from January 1, 1988 through October 4, 2021. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
Visit Performance Disclosure for information about the performance numbers displayed above.
Visit www.zacksdata.com to get our data and content for your mobile app or website.
Real time prices by BATS. Delayed quotes by Sungard.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
