The market responded resoundingly to last night's Pfizer vaccine announcement with a massive rotation out of growth stocks to the value names.

It really was a tale of two markets as energy, financials and industrials surged, while the sectors that sustained the market during the pandemic - gold, tech, consumer staples, consumer discretionary - dropped like a Republican's bottom lip. Unibail-Rodamco-Westfield jumped 44% after investors voted down a $5.7 billion cap raise to pay down debt. Our top three VODs today are:

The market can only go up from here... as long as the vaccine works

Wilsons: Aussie banks, EM are good "recovery plays"

The long end of the yield curve spells trouble for growth chasers



 

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