Vaccine Hiccup, DoorDash, AirBnB IPOs, Stimulus Hope: What's Up in Markets

Photo: Reuters

Investing.com -- U.K. regulators flag allergic reactions to the Pfizer/BioNTech vaccine. DoorDash raises nearly $3.4 billion in a blockbuster initial public offering (IPO) and AirBnB is expected to price later. Stocks edge up as politicians continue stimulus dance and the yuan hits new highs despite inflation dipping below zero for the first time in a decade.

1. Pfizer allergic reaction

U.K. health regulators warned that people suffering from allergy issues should not take the vaccine developed by Pfizer and BioNTech, after two British healthcare professionals experienced allergic reactions to the drug after being inoculated earlier in the week. Both carers are recovering well, according to an official from the National Health Service for England.

The news comes only two days after the U.K. began a mass immunization program using the drug, and a day after the U.S. Food and Drug Administration (FDA) said it had found no safety issues in an analysis of data from the companies’ stage 3 trial. The FDA is expected to approve the drug for emergency use at a meeting on Thursday.

2. DoorDash and AirBnB pricings

DoorDash priced its initial public offering at $102 a share, well above a marketing range that had already been revised upward, according to various reports.

That means the food delivery company will raise a total of $3.4 billion and gives it an overall valuation of $39 billion, more than double what it was valued at in a private round of fundraising earlier this year.

3. Stocks set to open higher; stimulus talks ongoing

U.S. stock markets are set to open mostly higher, supported by signs that the U.S. is edging closer to agreeing a fiscal package to lighten the burden on the economy from the latest wave of the Covid-19 pandemic.

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