Market Update (11/17)

Markets gave back a portion of Monday’s record setting closing levels as investors take a breath to evaluate the potential Covid-19 vaccine candidates from Pfizer and Moderna. While the vaccines are a giant step in the right direction to control the pandemic, there may also be some logistical hurdles to clear for either drug to reach maximum distribution efforts. Thus, investors took a pause to re-evaluate the potential of each drug candidate. Transportation and leisure stocks took a step back as well.

At the close, the $DJI lost 0.56% to 29,783.35. The NASDAQ Composite closed lower to 11,899.34, down 0.21%. The S&P 500 lost 0.48% to 3609.53. The Russell 2000 was positive, though, closing higher by 0.37% to 1791.91.

The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed lower by 0.1%. The PRISM Emerging MedCannabis index is higher by 1.6% on the day. The PRISM Emerging MedDevices index increased by 0.3%.

Other PRISM indexes closed mixed. The PRISM Emerging MedDiagnostics index lost 0.6%. The PRISM Emerging New Economy index closed higher by 2.9%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 3.8%. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index also closed lower by 2.8%.

The top commodities are mostly lower at the 4:00pm ET mark. Crude Oil is trading lower to $41.27, down 0.17%. Gold is lower by 0.44% to $1879.50 per oz., and Silver is lower by 0.92% to $24.58 oz. Bitcoin ($BTC) is extending its gains, breaking through $17,000, now trading to $17,602.96 as of 4pm est.

*data as of market close at 4pm est on 11/17/20

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Market Update (11/17)

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