Market Update (9/18)
Markets remained under selling pressure through Friday with tech leaders Amazon (AMZN), Apple (AAPL), and Facebook (FB) taking the Nasdaq to a six-week low. Despite relatively inspiring data on the economy, traders are still less willing to hold stocks into the weekend with headline risk weighing heavily on a number of fronts. The mood on Friday- decidedly bearish. The markets did, however, claw back heavier losses into the close.
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 lower by 0.8% on the day. The PRISM Emerging MedDevices index fell by 1.0%.
Other PRISM indexes closed mixed for the day. The PRISM Emerging MedDiagnostics index gained 1.0%. The PRISM Emerging New Economy index closed higher by 0.6%, and the PRISM Emerging Pet Care & AgriBiz index closed higher by 1.0% in value. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index closed lower 1.5%.
The top commodities closed mixed at the 4:00pm ET mark. Crude Oil moved lower to $40.85 per barrel, Gold gained 0.41% and is trading at $1957.80 per oz., and Silver is trending lower to $27.01oz.. Bitcoin ($BTC) is trading back below the $11,000 level, trading modestly lower at $10,878.15 as of 4pm est. Despite the selloff, the Vix, often referred to as the fear gauge, closed lower despite the market pressure to end at $25.94.
*data as of market close at 4pm est on 9/18/20