Stocks Today: 12.11.2020 – stock market update

Dec. 11, 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 (Friday, December 11, 2020).

The S&P 500 and the Nasdaq closed negative today, down respectively 0.13% and 0.23%. This represents the third consecutive daily decline for the S&P 500.

On the contrary the Dow Jones closed positive today, getting back in the 30,000s and closing up 0.16%.

Why did the stock market move today?

With the number of COVID-19 cases rising throughout the U.S., states and cities have been starting to impose new restrictions. Last in this list were the restrictions imposed today in New York City, with an order of suspending indoor dining starting from next Monday. This new order will hit restaurants very hardly (once again) while the news must have sounded quite alarming on Wall Street as well.

Moreover, the expectations to get a relief bill passed before the end of the year don’t look so promising as they seemed just a couple of days ago.

Stock of the day

In the occasion of their investor day, Disney announced that its streaming platform, Disney+, has now more than 86 million subscribers. Considering this number corresponded to their former forecast for 2024, they have now raised their 4 year estimate to 230 million subscribers.

Following such extraordinary data, the stock (NYSE: DIS) closed up 13.59% today, reaching an all-time high at 175.72.

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