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 $DJI lost 0.88% to 27,657.42. The NASDAQ Composite closed lower to 10,793.28, down 1.07%. The S&P 500 also lost ground by 1.12% to 3319.47. The Russell 2000 closed lower by 0.44% to 1535.05.

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

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Market Update (9/18)

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