Shares of industrial and transportation companies rallied as investors continued to rotate into sectors that could receive the biggest boosts to their bottom lines from a vaccine and a second stimulus package.
Shares of Boeing, which shot higher Monday after disclosures from Pfizer and partner BioNtech showed improved prospects of a Covid-19 vaccine in the short term, added to those gains Friday, with a 5% increase.
The revival of air travel could be a boon for Boeing, and other manufacturers such as General Electric. But strategists warn the Covid-19 pandemic could still wreak economic damage during the race for a vaccine.
"The biggest question is: does the surge of the coronavirus jeopardize the economic recovery before a vaccine is available," said Quincy Krosby, chief market strategist at Prudential Financial.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-13-20 1732ET
