Market Update (10/08)

October 08, 2020 at 5:10 pm - by Editor Investors Prism

The bulls kept the stage on Thursday, pushing the three major indexes modestly higher on the day. Investors are optimistic that a pandemic relief package is imminent, especially in the face of a weaker than expected jobless claims report. That sentiment drove both the markets and leading commodities higher.

At the close, the $DJI gained 0.52% to 28,425.51. The NASDAQ Composite closed higher to 11,420.98, up 0.50%. The S&P 500 gained 0.80% to 3446.83. The Russell 2000 was also strong, closing higher by 1.09% to 1628.55.

The InvestorsPrism family of indexes closed higher. The PRISM Emerging Gene Therapy index closed higher by 0.7%. The PRISM Emerging MedCannabis index is higher by 4.7% on the day. The PRISM Emerging MedDevices index increased by 1.5%.

Other PRISM indexes closed higher. The PRISM Emerging MedDiagnostics index gained 1.1%. The PRISM Emerging New Economy index closed higher by 1.5%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 0.9%. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index also closed higher by 0.1%.

The top commodities are higher at the 4:00pm ET mark. Crude Oil is trading higher to $41.29. Gold is modestly higher to $1898.70 per oz., and Silver is adding 0.33% to $23.98 oz. Bitcoin ($BTC) is consolidating with range-bound trading pricing the virtual currency at $10,876.78 as of 4pm est.

*data as of market close at 4pm est on 10/8/20