Market Update (11/19)
Indexes battled to beat the bears and closed higher on Thursday, turning back a potential third consecutive day of losses. Despite the green markets, though, investors remain concerned about the rising COVID-19 cases in the U.S. and the real-time potential for an effective cold-stored vaccine to stop the spread of the virus. Also, in what could hurt brick-and-mortar consumer spending, the U.S. Centers for Disease Prevention and Control (CDC) released new guidance on Thursday urging Americans not to travel for the Thanksgiving or congregate for the holidays. Despite the potential headwinds, markets still found their way higher.
At the close, the $DJI gained 0.15% to 29,482.38. The NASDAQ Composite closed higher to 11,904.71, up 0.87%. The S&P 500 gained 0.39% to 3581.85. The Russell 2000 was positive also, closing higher by 0.73% to 1782.22.
The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed higher by 0.5%. The PRISM Emerging MedCannabis index is lower by 0.3% on the day. The PRISM Emerging MedDevices index increased by 1.2%.
Other PRISM indexes closed mixed. The PRISM Emerging MedDiagnostics index lost 0.2%. The PRISM Emerging New Economy index closed higher by 2.4%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 1.4%. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index closed higher by 0.9%.
The top commodities are mixed at the 4:00pm ET mark. Crude Oil is trading higher to $41.91, up 0.22%. Gold is lower by 0.46% to $1865.30 per oz., and Silver is lower by 1.12% to $24.17 oz. Bitcoin ($BTC) pulled back from its successful attack through $18,000, now trading to $17,997.24 as of 4pm est.
*data as of market close at 4pm est on 11/19/20
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