Market Update (8/31)

August 31, 2020 at 5:21 pm - by Editor Investors Prism

Stocks gave back some of Friday’s gains on a cautious Monday trading session. Although the Nasdaq was the only index to close higher on the day, the S&P 500, Dow 30, and Nasdaq each end their best August trading month in decades. Movers on the day include Apple (AAPL) and Tesla (TSLA), both adding strong gains to their post-split stocks.

The $DJI closed lower by 0.78% to 28,430.05. The NASDAQ Composite bucked the trend to close higher to 11,775.46 up 0.68%. The S&P 500 dropped by 0.22% to close Monday at 3500.31.

The InvestorsPrism family of indexes closed the day mixed. The PRISM Emerging Gene Therapy index closed higher by 0.1%. The PRISM Emerging MedCannabis index moved higher by 0.3%. The small-cap heavy PRISM Emerging MedDevices index fell by 0.7%.

Other PRISM indexes closed mixed. The PRISM Emerging MedDiagnostics index fell by 0.6%, the PRISM Emerging New Economy index was higher by 1.4%, and the PRISM Emerging Pet Care & AgriBiz index closed lower by 0.3%. Tracking emerging biotechs, the PRISM Emerging Vaccines & Cell Therapy index closed lower by 4.0%.

The top commodities were mixed as of 4:00pm est. Crude Oil is lower to $42.79 per barrel, Gold higher to $1975.45 per oz., and Silver higher to $28.47 per oz.. Bitcoin ($BTC) joined the bullish sentiment to trade at $11,687.62, a gain of more than $426 since Friday.

*data as of market close at 4pm est on 8/31/20