Market Update (10/05)

October 05, 2020 at 4:27 pm - by Editor Investors Prism

Stocks reacted well to the news that the President will likely return to the White House on Monday. That news helped extend gains for the three major indexes. Big gainers included Regeneron (REGN), adding more than 7% on the news that its drug is being used as part of a combined treatment for the President. Tech and consumer goods stocks were also strong with Amazon (AMZN) and Apple (AAPL) each closing higher by more than 2%.

At the close, the $DJI gained 1.68% to 28,148.64. The NASDAQ Composite closed higher to 11,332.49, up 2.32%. The S&P 500 gained 1.80% to 3408.62. The Russell 2000 also had a strong day and closed higher by 2.73% to 1581.29.

The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed higher by 6.5%. The PRISM Emerging MedCannabis index is higher by 0.3% on the day. The PRISM Emerging MedDevices index increased by by 2.0%.

Other PRISM indexes 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 mostly higher at the 4:00pm ET mark. Crude Oil is trading 6.2% higher to $39.37, working to break the $40 resistance level. Gold is modestly higher to $1917.70 per oz., and Silver is adding 1.94% to $24.50 oz. Bitcoin ($BTC) is still trading range-bound at $10,744.53 as of 4pm est.

*data as of market close at 4pm est on 10/5/20