Market Update (11/12)

November 12, 2020 at 4:56 pm - by Editor Investors Prism

Stocks fell Thursday adding to Wednesday’s losses as optimism over a COVID-19 vaccine moderated further. According to reports, the virus situation worsened in the U.S., with new COVID-19 cases hitting a record more than 152,000 on Wednesday. Then, concerns over prospects for a stimulus bill out of Washington also caused optimism to fizzle. That comes after Bloomberg reported that the Trump administration was pulling back on negotiating a new stimulus package, and leaving congressional lawmakers including Senate Majority Leader Mitch McConnell and House Speaker Nancy Pelosi to make a deal.

At the close, the $DJI lost 1.08% to 29,080.17. The NASDAQ Composite moved lower to 11,709.59, down 0.65%. The S&P 500 lost 1.0% to 3537.01. The Russell 2000 lost 1.88% to 1704.38.

The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed lower by 0.1%. The PRISM Emerging MedCannabis index moved lower by 4.0%.

The PRISM Emerging MedDevices index traded lower by 0.3%. Other PRISM indexes closed mixed.

The PRISM Emerging MedDiagnostics index moved higher by 1.3%. The PRISM Emerging New Economy index closed lower by 0.3%, and the PRISM Emerging Pet Care & AgriBiz index closed lower by 1.3% on the day.

The biotech focused PRISM Emerging Vaccines & Cell Therapy index gained value, adding 0.7%. Vaxart, Inc. (VXRT, +15.31%) led the advancers.

The major commodities were mixed. At 4:00pm ET. Crude Oil is trading lower by 1.16% to $40.97. Gold is higher by 0.68% to $1874.20 per oz., and Silver is trading higher at $24.31 oz., up 0.18%. Bitcoin ($BTC) broke through the $15,000 level, exchanging hands at $16,127.85 at 4:00pm ET.

*data as of market close at 4pm est on 11/12/20

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