Market Update (10/02)

October 02, 2020 at 4:47 pm - by Editor Investors Prism

Markets could not keep the bears away on Friday after news broke that the President and First Lady tested positive for COVID-19. That news sent markets lower at the start and although indexes recouped some of its steep losses, each of the three large indexes closed lower to end the week. Disney (DIS), and Amazon (AMZN) were notable decliners on the day.

At the close, the $DJI lost 0.48% to 27,682.81. The NASDAQ Composite closed lower to 11,075.02, down 2.22%. The S&P 500 lost 0.96% to 3348.44. The Russell 2000 bucked the trend to close higher by closed 0.53% higher to 1539.30.

The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed lower by 2.9%. The PRISM Emerging MedCannabis index is higher by 0.3% on the day. The PRISM Emerging MedDevices index increased by 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 0.8%, 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 1.8%.

The top commodities are lower at the 4:00pm ET mark. Crude Oil is trading lower at $36.99, well below the $40 support it had last week. Gold is modestly lower to $1907.00 per oz., and Silver is dropping by 1.32% to $23.93 oz. Bitcoin ($BTC) is consolidating with range-bound trading pricing the virtual currency at $10,532.17 as of 4pm est.

*data as of market close at 4pm est on 10/2/20