Markets continued to rally on Thursday despite uncertainties in election results, chances for a near-term financial stimulus package, and potentially weak consumer sales numbers heading into the holiday season. Shrugging off the potential headwinds, investors again scooped up shares of healthcare and tech stocks, with some speculating the lack of a democratic sweep eases some of the possible regulatory pressure on certain sectors. That sentiment helped stocks.
At the close, the $DJI added 1.95% to 28,390.18. The NASDAQ Composite moved higher to 11,890.93, up 2.59%. The S&P 500 gained 1.95% to 3510.45. The Russell 2000 joined the bulls to close higher by 2.83% to 1660.77.
The InvestorsPrism family of indexes closed mostly higher. The PRISM Emerging Gene Therapy index closed lower by 0.1%, with Bluebird Bio (BLUE, -16.6%) leading the decliners. The PRISM Emerging MedCannabis index gained a whopping 15.1%, with Aurora Cannabis (ACB, +41.31%) posting huge gains on the day.
The PRISM Emerging MedDevices index traded higher by 1.1%. Orthofix Medical (OFIX, +14.28%) was bullish to lead the advancers on strong volume. Other PRISM indexes closed higher.
The PRISM Emerging MedDiagnostics index moved higher by 0.9%. The PRISM Emerging New Economy index closed higher by 6.2%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 3.2% on the day.
The biotech focused PRISM Emerging Vaccines & Cell Therapy index added to its value, increasing by 0.5%. Novavax, Inc. (NVAX, +6.69%) led the advancers.
The major commodities were mixed. At 4:00pm ET. Crude Oil is trading lower by 1.56% to $38.54. Gold is higher by 2.90% to $1951.20 per oz., and Silver is trading sharply higher at $25.48 oz., up 6.62%. Bitcoin ($BTC) is in rally mode, breaking through the $14,000 barrier to trade at $15,095.32 at 4:00pm ET.
*data as of market close at 4pm est on 11/05/20