Market Update (11/10)
Stocks closed mixed Tuesday as investors tempered excitement over a promising vaccine candidate. Details of Pfizer’s potential vaccine showed logistical challenges that could delay getting the treatment to millions of people across the globe. Nonetheless, the vaccine is an important step forward in reigning in the global pandemic. Although DOW stocks fared well, tech shares pressured the Nasdaq, causing it to dip further after Monday’s losses. The DOW pared early morning gains into the closing hours. The NASDAQ and S&P 500 both closed lower.
At the close, the $DJI gained 0.90% to 29,420.59. The NASDAQ Composite moved lower to 11,553.86, down 1.37%. The S&P 500 lost 0.14% to 3545.44. The Russell 2000 advanced by 1.78% to 1735.41.
The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed higher by 2.3%, with Precision BioSciences. (DTIL, +15.13%) leading the advancers. The PRISM Emerging MedCannabis index moved lower by 4.9%, with Pressure BioSciences (PBIO, +10.14%) staying bullish to lead the index gainers.
The PRISM Emerging MedDevices index traded higher by 1.5%. Pulse Biosciences (PLSE, +18.42%) was bullish to lead the advancers on strong volume. Other PRISM indexes closed mixed.
The PRISM Emerging MedDiagnostics index moved higher by 1.8%. The PRISM Emerging New Economy index closed lower by 1.8%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 0.8% on the day.
The biotech focused PRISM Emerging Vaccines & Cell Therapy index gained value, adding 4.2%. Inovio Pharmaceuticals (INO, +35.41%) led the advancers after reporting earnings after-hours on Monday.
The major commodities were higher. At 4:00pm ET. Crude Oil is trading higher by 2.76% to $41.40. Gold is higher by 1.06% to $1874.10 per oz., and Silver is trading higher at $24.23 oz., up 2.21%. Bitcoin ($BTC) is holding above the $15,000 level, exchanging hands at $15,287.16 at 4:00pm ET.
*data as of market close at 4pm est on 11/10/20
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