Markets / Commentaries
Stock Market Today: December 1, 2020
Robert Mitkowski | 12/01/2020
Stocks ended November on a weak note, although investors enjoyed strong gains for the month as whole. In all, Monday was a soft session that saw sectors, such as financial, energy, and small caps stocks, pull back notably after rallying in recent weeks. Still, encouraging vaccine news points to a strong opening this morning.
Markets / CommentariesStock Market Today: November 30, 2020
William G. Ferguson | 11/30/2020
The final trading day of November is set to begin with investors’ long equities holding major gains this month. The stretch has been a great one for traders, with stocks getting a boost early on from the elections results, which depending on Georgia Senate seat runoffs in early January, may result in a divided government. That keeps the possibility alive that some of the business friendly policies implemented during the Trump Administration will remain in place, which many pundits think would be a good scenario for both Main Street and Corporate America.
Markets / CommentariesStock Market Today: November 25, 2020
Harvey S. Katz, CFA | 11/25/2020
It was a heavy news day that greeted Wall Street investors yesterday morning, as key economic and political developments unfolded. On the business side, we saw a rather listless survey on consumer confidence issued, with rising COVID-19 cases apparently leading to a modest dip in that index. On the political front, meantime, the last 24 hours yielded further progress in finally starting to bring about an official transition between the outgoing Administration in Washington and the incoming one headed by President-Elect Joe Biden.
Markets / CommentariesStock Market Today: November 24, 2020
John E. Seibert III | 11/24/2020
The stock market started strongly yesterday, as news of a third vaccine candidate improved sentiment. Traders bought stocks thinking this would mean a quicker recovery from the coronavirus pandemic and that an economic rebound would occur more quickly. The Dow Jones Industrial Average was up by as many as 306 points in short order, while the S&P 500 was ahead 31 points. However, the markets quickly became overbought and then turned back some. Then, near midday, news broke that President-Elect Biden picked former Fed chief Janet Yellen to be his Treasury Secretary.
Markets / CommentariesStock Market Today: November 23, 2020
Harvey S. Katz, CFA | 11/23/2020
Wall Street soon will start a new week following an up-and-down five day span, which saw the leading equity averages surge at the outset and fade by the close. This uneven pattern reflected good news very early in the week, as drug maker Moderna (MRNA) followed pharmaceuticals giant Pfizer (PFE) in announcing a vaccine to prevent COVID-19. Then, as the week proceeded, the realization that until there is mass distribution of these vaccines, which may not happen until well into the spring, the market will face soaring cases of this disease.
Markets / CommentariesStock Market Today: November 20, 2020
Harvey S. Katz, CFA | 11/20/2020
After some fireworks the first three sessions of this week, as the stock market initially soared on positive news on the COVID-19 vaccine front from Moderna (MRNA) and Pfizer (PFE), the equity market pulled back on Tuesday and Wednesday on concerns about the increasing financial and human cost of this pandemic in the form of likely lockdowns and business and school closures. Then, yesterday, things seemed to calm down somewhat and a less frenetic response from investors took hold.
Markets / CommentariesStock Market Today: November 19, 2020
Harvey S. Katz, CFA | 11/19/2020
The stock market reversed course during the first two weeks of November, eclipsing the losses of the previous two months, in the process. Monday saw a stealth increase owing to optimism about a coronavirus vaccine. However, concerns over rising COVID-19 cases and the potential lockdown caused the market to lose ground on Tuesday and Wednesday. Looking out to a new day, the futures are pointing to a slightly lower opening on Wall Street this morning.
Markets / CommentariesStock Market Today:November 18, 2020
Harvey S. Katz, CFA | 11/18/2020
The new week started out on a strong up note for Wall Street, as news of a second vaccine for preventing the deadly COVID-19 virus, this time from drug maker Moderna (MRNA), helped drive the Dow Jones Industrial Average up by 470 points, to a record closing high just south of 30,000, on Monday. That strong upsurge, which also included meaningful gains by the other equity indexes, however, did not carry over to trading yesterday morning, as the Dow, the S&P 500, and the NASDAQ all retreated initially.
Markets / CommentariesStock Market Today: November 17, 2020
Mario Ferro | 11/17/2020
Wall Street soared higher yesterday, building upon last week’s gain. Traders were injected with a large boost of confidence after Moderna (MRNA) announced promising Phase III trial data for its vaccination candidate. The Dow Jones Industrials ended the session up 470 points, or 1.6%, marking a record high. The S&P 500 also reached new heights, advancing 41 points (1.2%), while the tech-heavy NASDAQ added 94 points (.8%). As we look to the new day, U.S. stock futures are suggesting some profit taking at the opening bell. Stay tuned.