Market Update (11/6)

November 06, 2020 at 5:33 pm - by Editor Investors Prism

Stocks took a pause on Friday, with investors cautious going into the weekend as election uncertainty continues. A better-than-expected jobs report helped boost spirits but lacked the strength to push the broader markets higher. Still, the indexes posted a strong week and held most of its gains earned during Wednesday and Thursday as investors picked at value in the medical and tech sectors.

At the close, the $DJI lost 0.24% to 28,323.40. The NASDAQ Composite moved higher to 11,895.23, up 0.04%. The S&P 500 lost 0.03% to 3509.44. The Russell 2000 declined by 0.87% to 1645.70.

The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed lower by 2.9%, with Homology Medicines (FIXX, -20.83%) leading the decliners. The PRISM Emerging MedCannabis index added an impressive 15.2%, with Aurora Cannabis (ACB, +55.42%) posting a second consecutive day of huge gains.

The PRISM Emerging MedDevices index traded lower by 0.3%. Apollo Endosurgery (APEN, +12.64%) was bullish to lead the advancers on strong volume. Other PRISM indexes closed mixed.

The PRISM Emerging MedDiagnostics index moved higher by 0.2%. The PRISM Emerging New Economy index closed higher by 1.7%, and the PRISM Emerging Pet Care & AgriBiz index closed lower by 1.0% on the day.

The biotech focused PRISM Emerging Vaccines & Cell Therapy index lost value, decreasing by 0.5%. ADMA Biologics (ADMA, -9.48%) led the decliners.

The major commodities were mixed. At 4:00pm ET. Crude Oil is trading lower by 3.74% to $37.34. Gold is higher by 0.41% to $1954.70 per oz., and Silver is trading higher at $25.72 oz., up 2.08%. Bitcoin ($BTC) is holding above the $15,000 level, exchanging hands at $15,480.20 at 4:00pm ET.

*data as of market close at 4pm est on 11/06/20