Stocks Today: 11.25.2020 – stock market update

Nov. 25, 2020

Good evening everyone! Welcome to a new episode of “Stocks Today”, explaining what forces moved the stocks in the U.S. equity market today (Wednesday, November 25, 2020).

A small step back for indexes today after the rally seen in the last two days.

The S&P 500 was down 0.16% today, closing at 3,629.65. The Dow Jones had to give up its 30,000 crown at least for today, closing down 0.58% and back to 29,872.47.

Great news for the Nasdaq! The index reached a new all-time high today, finally getting over September’s record and closing up 0.48% at 12,094,40.

Why did the stock market move today?

According to the weekly update by the U.S. Department of Labor, jobless claims went up for the second week in a row and reached 778,000. It wasn’t since last July that the jobless claims have risen for two consecutive weeks.

Combined with a growing number of COVID-19 infections and hospitalization across the U.S., the calm after two day of green markets made the voice of skeptical investors sound louder.

Stocks of the day

After rumours of a merger with Saleforce getting closer, Slack had an incredibile trading day. The stock (NYSE: WORK) was up more than 37% today!

Despite the lack of official announcement relating to the companies, investors in Appian Corporation and Palantir Technologies Inc. had an amazing day today.

Appian (NASDAQ: APPN) closed up 31.69% and is up 167% since the beginning of November!

Palantir (NYSE: PLTR) almost tripled since the beginning of the month and ended the day up 21.96%.

Finally, the stock market will be closed for Thanksgiving tomorrow (Thursday, November 26, 2020).

That’s all for this Wednesday’s stock market update. Stay tuned to receive your daily update!