Stock Market wraps up mixed after news on delayed vaccine rollout

Stock market ended mixed today Tuesday as the vaccine rollout from Johnson & Johnson's (JNJ) COVID-19 vaccine was found to have caused blood clotting in some patients who took the vaccine.
By: Investam HK Limited
 
CENTRAL, Hong Kong - April 22, 2021 - PRLog -- The joint announcement of U.S. Food and Drug Administration along with the Centers for Disease Control and Prevention on pre-market session heavily impacted JNJ's performance which also hit the Dow. Concerns were raised as the vaccine rollout pause might affect timelines set for the distribution causing delay in the intended goal of herd immunity in the U.S. However, with other suppliers such as Pfizer Inc. and Moderna Inc. around, some still believe that vaccine supply will be enough.

According to the reports from health agencies, more than 6 severe blood clots are being investigated closely out of the 6.8 million doses that have been administered so far. The decision was based on 'abundance of caution', says FDA on a post in Twitter.

S&P 500 closed an all new high today despite the news about the vaccine rollout pause. Continuous economic recovery is being expected despite inflation records shown today to be higher than expected.

NASDAQ Composite Index also closed an all time high with 13,996 today. Inflation concerns are now minimal as the fine print on inflation rate was released. Though it was higher than expected, investors believe that the economic stimulus is enough to keep it in check, hence again shifting to tech stocks for quick growth.

The Dow Jones Industrial Average was hit hard by what happened with Johnson & Johnson's, and both closed in the red in today's session.

Here's a quick rundown of the market's movements for today:
  • The Dow Jones Industrial Average dipped 68.13 basis points or 0.20% ending with 33,677
  • NASDAQ Composite Index outperformed with 146.10 basis point or 1.05% gain, closing at 13,996
  • The S&P 500 Index up by 13.60 basis points or 0.33% and ended at 4,142
  • Crude topped $0.72 or 1.21% and now at $60.42 per barrel
  • Gold gained $12.70 or 0.73% with a closing price of $1,745.40 per ounce
  • 10 Year Treasury yields dropped 5.2 basis points at 1.6230%
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