Friends
It was a difficult day for stocks as traders are concerned about further shutdowns as the virus continues to blow up. Also, though it should be no surprise, the odds of a stimulus deal, given the political uncertainty/environment, before the end of the year seems to be nearly zero. So, we have a tug of war between good vaccine and therapeutic news and the realization that we are entering a serious stage of virus expansion.
For the day, the Dow Jones Industrial Average was down 317 points to close at 29,080. The S&P 500 was up down 35 points to finish the day at 3,537. The Nasdaq Composite Index was down 76 points to close at 11,709. Gold was up $12 to trade at $1,873 per ounce, while oil was down $.47 to trade at $40.98 per barrel WTI.
So, we got the big boost from Pfizer’s vaccine news on Monday, but after that burst of energy, market participants have pulled back their horns just a little. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
