Market Update (11/02)

Stock prices strengthened moderately into the close, keeping the major indexes in positive territory at 4pm ET. The NASDAQ stocks found buyers in the waning minutes of trading to keep itself out of negative territory. Investors appeared indecisive at times and traded cautiously ahead of several potentially market-moving events, including the elections, the ongoing pandemic, and an anticipated October jobs report. The oil market pivoted off of its weak morning session and is trading higher by roughly 3.4%. Those gains helped enthuse the broader markets.

At the close, the $DJI gained 1.60% to 26,925.05. The NASDAQ Composite moved higher to 10,957.61, up 0.42%. The S&P 500 gained 1.23% to 3310.24. The Russell 2000 joined the bulls to close higher by 1.81% to 1566.36.

The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed lower by 0.4%, with Celyad SA (CYAD, +13.15%) bucking the weakness to close higher. The PRISM Emerging MedCannabis index was very strong, closing higher by 8.7%. Tilray Inc. (TLRY, +16.64%) was the star of the index to lead all advancers.

The PRISM Emerging MedDevices index traded higher by 0.8%. Alpha Pro Tech (APT, +7.82) led the bulls to top the index’s gainers list. Other PRISM indexes closed mixed.

The PRISM Emerging MedDiagnostics index moved lower by 0.3%. The PRISM Emerging New Economy index closed higher by 1.0%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 0.7% on the day.

The biotech heavy PRISM Emerging Vaccines & Cell Therapy index closed lower by 0.1%. BiondVax Pharmaceuticals (BVXV, -9.33%) continued its slide to lead the decliners.

The major commodities were higher. At 4:00pm ET. Crude Oil is trading higher by 3.41% to $37.01. Gold is higher by 0.81% to $1895.10 per oz., and Silver is trading higher at $24.15 oz., up 2.13%. Bitcoin ($BTC) is holding its own above the $13,000 level, trading at $13,642.73.

*data as of market close at 4pm est on 11/02/20