Market Update (9/22)
Markets were searching for direction on Tuesday and finally found it- higher. Each of the three major indexes moved into the green after a see-saw morning session that had investors anxious following the Fed Chair’s remarks about the future of the economy. The bulls eventually took charge with large tech stocks again leading the way. Amazon (AMZN), Apple (AAPL), and Facebook (FB) all closed higher.
The $DJI gained 0.52% to 27,288.014. The NASDAQ Composite closed higher to 10,963.64, up 1.71%. The S&P 500 also gained ground by 1.05% to 3315.56. The Russell 2000 closed bullish by 0.85% to 1497.74.
The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed flat by 0.00%. The PRISM Emerging MedCannabis index was higher by 1.2% on the day. The PRISM Emerging MedDevices index increased by 0.7%.
Other PRISM indexes also closed mixed. The PRISM Emerging MedDiagnostics index lost 1.7%. The PRISM Emerging New Economy index closed lower by 0.6%, and the PRISM Emerging Pet Care & AgriBiz index closed flat by 0.0%. The biotech heavy PRISM Emerging Vaccines & Cell Therapy index closed higher by 0.3%.
The top commodities are trading mostly higher at the 4:00pm ET mark. Crude Oil moved to $39.55 per barrel, Gold is trading at $1906.40 per oz., and Silver is trending modestly higher to $24.55 oz.. Bitcoin ($BTC) is trying to work its way back to $11,0000 and is trading at $10,505.50 as of 4pm est.
*data as of market close at 4pm est on 9/22/20