Stocks Today: 12.08.2020 – stock market update

Dec. 8, 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 (Tuesday, December 8, 2020).

It was a great day in the stock market today with all main indexes reaching an all-time high!

The S&P 500 closed up 0.28% today, getting in the 3,700s. The Dow Jones was up 0.35% and the Nasdaq was up 0.50%. All three indexes reached a new all-time record.

Why did the stock market move today?

Following the news that the United Kingdom started administering the vaccine developed by Pfizer and BioNTech, investors seemed to gain confidence today.

Today’s optimism in the stock market was also caused by signs that some Republican members of the Congress are looking forward to get in talks with the Government about a new COVID-19 relief bill. Such signs may all represent small steps towards the enactment of a $900 billion aid bill.

Stocks of the day

After rumors that the company could be acquired by Cisco System, investors in Fastly (NYSE: FSLY) saw their stocks jump quite a bit in the past hours. Shares in the cloud computing services provider were up more than 14.76% today!

Yesterday evening it was announced that Uber Technologies Inc. sold its self-driving-car unit to Aurora Innovation Inc.. Although as part of the deal Uber will itself result invested in Aurora, its stocks (NYSE: UBER) were down 1.47% today.

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