Will Pfizer's COVID-19 vaccine end the ASX tech share rally? // Motley Fool Australia

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With Pfizer's announcement of a promising COVID-19 vaccine, ASX tech shares are largely missing out on the global share market rally.
Motley Fool Australia » Share Market News » Will Pfizer's COVID-19 vaccine end the ASX tech share rally?

Life is inherently uncertain.

That's true for you and me as individuals. And it's inescapable when you take all 7.8 billion of us together.

If we needed any reminding, 2020 did the trick.

But November looks like it may go a long way to putting 3 of the great uncertainties that have been roiling share markets to bed.

First Brexit. (Remember when that was our greatest worry as investors?)

The European Union and the United Kingdom have set 15 November as the deadline to ink a new trade deal. While that agreement has yet to be reached, European Commission President Ursula von der Leyen and UK Prime Minister Boris Johnson spoke by phone over the weekend to hammer out remaining obstacles, like fishing rights.

Whether the Brexit woes fade comfortably into the rear-view mirror in November remains to be seen. But sooner or later, they will.

Second, one of the most hotly contested elections in United States history. (And, like it or not, what happens in the world's biggest economy matters to Australia and our share markets.)

The world won't know for certain whether Democrats or Republicans hold the balance of power in the Senate until after the runoff election in January. But it is increasingly likely that Joe Biden will move into the White House. And with that certainty, markets can move forward.

Third, the cursed coronavirus. If anything has unleashed mass uncertainty onto the world and global share markets it's the global pandemic.

Yesterday I shared a quote in this article from Chris Gaffney, taken from Bloomberg. He's the president of world markets at TIAA Bank. Here's what Gaffney said:

The biggest factor investors have to be aware of and the biggest thing that's going to determine returns in the short-term is COVID. It's not going to be who's in the White House, it's not going to be if we get a stimulus package or not. It's all about COVID right…
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