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(Thursday Market Open) Recent vaccine and stimulus news has mostly sounded promising, but it’s reached the point where investors are asking, “What’s next?” The market can be impatient, but these developments tend to take a while. A vaccine rollout requires months, and it’s still unclear if Congress can actually get something done in this lame-duck session. That means it’s wait-and-see mode on a lot of things.
Meanwhile, after a few weeks of positive vaccine news that helped push the reality of the crisis into the background a bit, it looks like there’s more focus today on the here and now. The country had its biggest day of diagnoses yesterday and medical experts are saying the U.S. faces a very tough winter. This sort of thing may not be enough to knock the wind out of the rally, but it’s a reminder that a lot of the recent gains were built on hope for something that’s in the future. As we noted yesterday, it’s important not to get caught up in the vaccine euphoria.
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