Dec. 10, 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 10, 2020).
While the S&P 500 and the Dow Jones closed negative today, respectively down 0.13% and 0.23%, the Nasdaq closed up 0.54%. The Dow had to step back from its 30,000 record, at least for today.
Why did the stock market move today?
The day started with the data from the US Department of Labour Department showing an increasing number of unemployment claims for last week: 853,000 Americans filed first-time jobless claims. This number is higher than the number of claims filed two weeks ago (716,000).
Investors seemed to have kept some degree of skepticism on the near future, especially as a COVID-19 relief bill is still to be agreed upon by lawmakers in Washington.
Stock of the day
Probably the most awaited IPO of 2020, AirBnB has officially gone public today! Before it opened to the market, the company was valued at $68 a share. The stock (NASDAQ: ABNB) opened for traders at around $146 and closed at $144.7.
That’s all for this Thursday’s stock market update. Stay tuned to receive your daily update!