Dec. 14, 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 (Monday, December 14, 2020).
For the fourth day in a row, the S&P 500 closed negative: the index was down 0.44% today. Similarly, the Dow Jones also closed negative today (down 0.62%).
The Nasdaq closed up 0.50% today, guided by a great performance of stocks from the tech-sector.
Why did the stock market move today?
Stocks opened high on the enthusiasm for the rollout of COVID-19 vaccines in the U.S. as Pfizer started dispatching trucks from a Michigan plant. Further optimism was caused by the news progressing talks on additional stimulus.
The optimism for such great news and for a near recovery faded during the day as can be observed from the shift of investors towards tech stocks during the day.
Stock of the day
Following the news that the company will be bought by AstraZeneca, stocks in Alexion Pharmaceuticals (NASDAQ: ALXN) closed up more than 29% today.
That’s all for this Monday’s stock market update. Stay tuned to receive your daily update!