Stocks Today: 12.03.2020 – stock market update

Dec. 3, 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 (Thursday, December 3, 2020).

Indexes have seen quite some volatility today, due to contrasting news coming throughout the day.

The S&P closed down less than 0.1% whereas the Nasdaq improved its all time record, closing up 0.23%

The best performing among our favourite indexes was for sure the Russell 2000. The index representing small-cap stocks closed up 0.58% today.

Why did the stock market move today?

After two consecutive weeks of increase, today a decrease in the number of weekly jobless claims was announced. In particular, claims for jobless benefits went down to 712,000 for the week ended last Saturday. Such a news provided investors with the initial confidence that we have seen expressed in the stock market early today.

Stocks dropped sensibly in the afternoon after that Pfizer announced problems with its vaccine supply chain. As a consequence, the expected 100 million doses of vaccine to be delivered in 2020 have been cut to 50 million.

Stocks of the day

Airlines and cruise stocks had a great trading day today! American Airlines (NASDAQ: AAL) closed up 8.28%, Spirit Airlines (NYSE: SAVE) up 6.10% and Boeing (NYSE: BA) up 5.96%.

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