Market Update (11/24)
Markets rallied on Tuesday as optimism over the imminent deployment of a COVID-19 vaccine pushed the Dow Jones Industrial Average above 30,000 for the first time ever Tuesday. Investors are encouraged by developments in the fight against the coronavirus, despite the coronavirus crisis deepening worldwide. Along with the DOW hitting a new high, the Russell 2000 index set a new peak. Investors were buying in all sectors.
At the close, the $DJI gained 1.54% to 30,046.24. The NASDAQ Composite closed higher to 12,036.79, up 1.31%. The S&P 500 gained 1.62% to 3635.41. The Russell 2000 was positive, closing higher by 1.94% to 1853.53.
The InvestorsPrism family of indexes closed mostly higher. The PRISM Emerging Gene Therapy index closed higher by 0.1%. The PRISM Emerging MedCannabis index is higher by 7.2% on the day. The PRISM Emerging MedDevices index increased by 1.6%.
Other PRISM indexes closed mixed. The PRISM Emerging MedDiagnostics index lost 0.9%. The PRISM Emerging New Economy index closed higher by 0.6%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 2.8%. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index closed lower by 1.1%.
The top commodities are mostly higher at the 4:00pm ET mark. Crude Oil is trading higher to $44.87, up 4.2%. Gold is lower by 1.80% to $1804.20 per oz., and Silver is lower by 1.66% to $23.24 oz. Bitcoin ($BTC) is continuing its run higher, now preparing to again break through $19,000, trading AT $18,979.94 as of 4pm est.
*data as of market close at 4pm est on 11/24/20
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