Market Update (10/07)
The bulls took control of the markets on Wednesday, pushing indexes to their highest levels in more than a month. Markets were receptive to the news that President Trump is willing to piecemeal a pandemic relief package to help stimulate the economy.
At the close, the $DJI gained 1.91% to 28,303.46. The NASDAQ Composite closed higher to 11,364.30, up 1.88%. The S&P 500 gained 1.74% to 3419.44. The Russell 2000 was also strong, closing higher by 2.14% to 1611.04.
The InvestorsPrism family of indexes closed higher. The PRISM Emerging Gene Therapy index closed higher by 4.0%. The PRISM Emerging MedCannabis index is higher by 3.0% on the day. The PRISM Emerging MedDevices index increased by 3.1%.
Other PRISM indexes closed higher. The PRISM Emerging MedDiagnostics index gained 1.7%. The PRISM Emerging New Economy index closed higher by 3.7%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 3.9%. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index also closed higher by 2.4%.
The top commodities are mixed at the 4:00pm ET mark. Crude Oil is trading lower to $40.00, teetering on its $40 support level. Gold is modestly lower to $1890.40 per oz., and Silver is dropping by 0.15% to $23.89 oz. Bitcoin ($BTC) is consolidating with range-bound trading pricing the virtual currency at $10,654.36 as of 4pm est.
*data as of market close at 4pm est on 10/7/20