Dec. 9, 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, December 9, 2020).
The stock market inverted yesterday’s positive trend today with all main indexes closing negative.
The S&P 500 closed down 0.79%, the Dow Jones down 0.35% and the Nasdaq down 1.94%.
Why did the stock market move today?
With the number of daily COVID-19 cases growing, new restrictions being ordered and no real move from the Congress regarding the expected relief bill, the enthusiasm that was seen yesterday for the new talks between congressmen and government is definitively fading.
Despite both Republicans and Democrats seem to agree on the necessity of a deal for the enactment of a new relief bill, the two sides still remain without an agreement.
Stock of the day
The on-demand prepared food delivery service DoorDash Inc. had its IPO today. The stock (NYSE: DASH) closed up more than 85% in its market debut today if one compares its end price to the pre-market opening value. With the shares being priced at $102 on Tuesday, the stock began trading at $182 per share today and closed up almost 5% at $189.51.
That’s all for this Wednesday’s stock market update. Stay tuned to receive your daily update!