Market Update (11/25)
The DOW gave back a small percentage of its record high on Wednesday, but the tech heavy NASDAQ hit a new record despite soft U.S. data related to weekly jobless claims. Optimism over the imminent deployment of a COVID-19 vaccine remains in focus with investors eyeing transportation and brick and mortar retail stocks that may outperform after the vaccine is put to use. Weekly jobless claims revealed a labor market that is still struggling with another 778,000 workers filing for benefits. Sentiment was mixed at the closed
At the close, the $DJI lost 0.58% to 29,872.47. The NASDAQ Composite closed higher to 12,094.40, up 0.48%. The S&P 500 lost 0.16% to 3629.65. The Russell 2000 was lower, closing down by 0.46% to 1845.02.
The InvestorsPrism family of indexes closed mostly higher. The PRISM Emerging Gene Therapy index closed higher by 1.6%. The PRISM Emerging MedCannabis index is higher by 1.1% on the day. The PRISM Emerging MedDevices index increased by 0.3%.
Other PRISM indexes closed mixed. The PRISM Emerging MedDiagnostics index gained 1.1%. The PRISM Emerging New Economy index closed higher by 1.0%, and the PRISM Emerging Pet Care & AgriBiz index closed lower by 0.4%. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index closed higher by 1.9%.
The top commodities are mostly higher at the 4:00pm ET mark. Crude Oil is trading higher to $45.80, up 1.98%. Gold is lower by 0.03% to $1804.00 per oz., and Silver is higher by 0.32% to $23.38 oz. Bitcoin ($BTC) is consolidating above $18,500, now trading to $18,945.96 as of 4pm est.
*data as of market close at 4pm est on 11/25/20
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