Stocks continue to surge upward thanks to optimism about a coronavirus vaccine. Of course, stocks have been on a bull run ever since their big March drop at the beginning of the pandemic. This led Peter Schiff asks a poignant question during his podcast: if COVID-19 didn’t hurt the stock market, why should a vaccine help?
This week Moderna announced success in a coronavirus vaccine trial, adding to the optimism that an effective vaccine could be out soon. Stocks were up and gold sold off, but not to the extent that we saw with the Pfizer announcement last week. Peter asked, “Why is the market even rallying on a COVID vaccine?”