Market Update (9/15)
Markets continued their upward momentum on Tuesday with all three major indexes closing higher.
Despite paring gains into the closing hour, the indexes closed positive as better-than-expected economic data out of China set a positive tone for traders. Stocks in the news are Gilead (GILD), who is preparing to acquire tumor-fighting drug maker Immunomedics (IMMU). Microsoft Corp. (MSFT) moved higher by 1.64% as investors weigh their chances to acquire TikTok.
The $DJI gained 0.01% to 27,995.60. The NASDAQ Composite closed higher to 11,190.32 , up 1.21%. The S&P 500 also had buyers interest to send that index higher by 0.52% to 3401.20. The Russell 2000 faught to hold a modest gain of 0.05% to 1538.09.
The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed slightly higher by 0.01%. The PRISM Emerging MedCannabis index was flat on the day. The PRISM Emerging MedDevices index fell by 1.0%.
Other PRISM indexes closed lower for the day. The PRISM Emerging MedDiagnostics index lost 0.6%. The PRISM Emerging New Economy index closed higher by 0.6%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 0.3% in value. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index closed lower by 4.0%.
The top commodities closed mixed at the 4:00pm ET mark. Crude Oil inched higher to $38.27 per barrel, Gold lost roughly two-dollars and is trading at $1961.60 per oz., and Silver is trending flat to $27.32oz.. Bitcoin ($BTC) is gaining back its momentum to stay above the $10,000 support level with the virtual currency trading at $10,798.40 as of 4pm est. The Vix, often referred to as the fear gauge, lost 0.81% to end at $25.64.
*data as of market close at 4pm est on 9/15/20