Market Update (9/21)
Markets rallied late in the day, but despite clawing back steep losses, the three major indexes closed lower. After being down more than 3% intraday, each of the indexes rallied back to close between 0.13% – 1.84% lower. The NASDAQ fought hard to turn positive at the close but lost that battle to close lower by .13%. The bears have now caused the longest losing streak since February. Tech stocks did find buyers, though. Amazon (AMZN) and Apple (AAPL) both closed nicely higher. Facebook (FB) bucked that trend to close 1.73% lower on the day.
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 higher by 0.3% on the day. The PRISM Emerging MedDevices index fell by 2.3%.
Other PRISM indexes closed followed the markets lower. The PRISM Emerging MedDiagnostics index gained 0.6%. The PRISM Emerging New Economy index closed lower by 1.6%, 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 2.7%.
The top commodities closed mixed at the 4:00pm ET mark. Crude Oil moved lower to $39.68 per barrel, Gold lost 2.23% and is trading at $1918.40 per oz., and Silver is trending lower to $24.83oz.. Bitcoin ($BTC) is trading back below the $11,000 level, trading 3.7% lower at $10,530.50 as of 4pm est.
*data as of market close at 4pm est on 9/21/20