Market Update (9/29)
Markets stalled on Tuesday with concerns about the newest stimulus proposal and the first presidential debate causing some concern in investors minds. The selloff was relatively mild, though, with the three major indexes closing lower by less than a half-percent each. Market leaders Amazon (AMZN), Apple (AAPL), Tesla (TSLA) each closed modestly lower, giving back less than a percent each from their recent gains.
At the end of the day, the $DJI lost 0.48% to 27,452.66. The NASDAQ Composite closed lower to 11,085.25, down 0.29%. The S&P 500 also lost ground by 0.48% to 3335.47. The Russell 2000 closed 0.37% lower to 1504.73.
The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed nicely higher by 1.3%. The PRISM Emerging MedCannabis index was higher by 0.3% on the day. The PRISM Emerging MedDevices index dropped by 0.3%.
Other PRISM indexes also closed lower. The PRISM Emerging MedDiagnostics index lost 2.0%. The PRISM Emerging New Economy index closed lower by 0.6%, and the PRISM Emerging Pet Care & AgriBiz index closed lower by 0.3%. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index closed lower by 4.0%.
The top commodities are trading mostly lower at the 4:00pm ET mark. Crude Oil broke below the $40 support level and is trading at $39.00 per barrel, Gold is trading modestly higher to $1902.80 per oz., and Silver is more than 3% higher at $24.35 oz.. Bitcoin ($BTC) is trading range-bound at $10,767.85 as of 4pm est.
*data as of market close at 4pm est on 9/29/20