When it comes to YOUR MONEY, we take it a step further. That's why Mark Grywacheski appears on Good Morning Quad Cities every Monday to give us his analysis of the latest business, economic, and financial news.
There are now three effective COVID-19 vaccines (click here for the latest news out today), but we're not seeing too much of an effect on Wall Street.
Financial Advisor Mark Grywacheski with the Quad Cities Investment Group says we always thought Wall Street would view any vaccine as a "silver bullet" to get the economy and labor market back to where they were before the COVID-19 Pandemic, but this graph does not show a big boost:
Grywacheski says Wall Street is being "cautiously optimistic":
"Even with three vaccines, Wall Street has significant concerns over how fast can these vaccines be produced and distributed - not just within the U.S., but also to the global population," he explained. "By the end of the year, between these three vaccines, there will be enough treatments to cover just a tiny fraction - about 6% - of the U.S. population and even that 6% by year-end is being heavily debated on Wall Street as being unrealistic."
Between these three vaccines, Grywacheski says there should be enough doses to cover the entire U.S. population by the end of 2021, but only 1/3 of the world population:
"So, having additional vaccines hit the market would speed up the vaccination of the U.S. population and further help satisfy global demand," he said. "But Wall Street is raising other concerns over these vaccines. First, how long will each vaccine provide immunity from the COVID-19 virus? Also, will any of these vaccines remain effective if the COVID-19 virus mutates? That often happens with many viruses, so it's understandable why the stock market - like Wall Street - is taking a cautiously optimistic approach to these vaccines."