Friday Money Mate — 20 Nov 2020
Stock markets around the world rallied this week as investors pegged hopes on positive trial data from two vaccines.
Amid the euphoria, tech entrepreneur Elon Musk was dubbed “Space Karen” after complaining about COVID-19 tests to his millions of followers.
A meme of the billionaire with a “Karen” haircut did the rounds on social media, perhaps overshadowing Tesla’s inclusion in the S&P 500 Index and the launch of four SpaceX rockets into space.
ASX Weekly Chart
The ASX had a positive week, gaining just over 2%. The index is now just 2% lower than it started the year.
S&P/ASX 200
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ASX close to reversing 2020 losses
The ASX rebound over the past week has put the ASX on track to recover its 2020 losses.
Optimism about a vaccine has pushed stocks higher this week.
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Pharmaceuticals on track to be Australia’s billion dollar per month export
Australia’s pharmaceutical sector is poised to become the next billion-dollar per month export industry as sales of manufactured drugs and medications for humans (as well as animals) continues to break new records according to data compiled from the Australian Bureau of Statistics (ABS).
