Market Update

Stocks gained across the board with the S&P 500 and Nasdaq markets reaching intraday records on Wednesday. Markets were cautions at the open but turned bullish after investors joined a rally and pushed strong gains in market leaders, Netflix ($NFLX), Amazon ($AMZN), and Tesla ($TSLA). The $DJI closed higher by .3% to 28,331. The NASDAQ Composite rose to 11,655, up 1.73%. Investors are still cautious from mixed signals from the economy and pandemic, however, bullish news from the monthly durable goods orders sent waves of confidence into the markets.

The InvestorsPrism family of indexes closed the day mixed. The PRISM Emerging Pet Care & AgriBiz is lower by 0.3%. PRISM Emerging Vaccines& Cell Therapy index closed lower by 4%.

Other PRISM indexes closed mixed. PRISM Emerging MedCannabis is lower by 1.5%, PRISM Emerging MedDevices is higher by 1.7%, and PRISM Emerging MedDiagnostics lower by 0.9%. The PRISM Emerging New Economy index gained on the day, adding 1.4% to its value. PRISM Emerging Gene Therapy closed lower by 2%, with weakness in small biotech stocks leading the declines.

The commodities market is bullish with Crude Oil higher to $43.43 per barrel, Gold higher to $1961.10 per oz., and Silver higher to $27.55 per oz.  Bitcoin ($BTC) is trading at $11,502.06, higher by 1.3% on the day.

*data as of market close on 8/26/20

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Market Update

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