Dec. 15, 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 15, 2020).
After four consecutive days closing negative, the S&P 500 recovered part of its recent losses and closed up 1.29% today. The Dow Jones also closed positive today, up 1.13%.
The Nasdaq closed up 1.25% today, reaching an all-time high at 12,595.
Why did the stock market move today?
House Speaker Pelosi, Senate Majority Leader McConnell, Senate Minority Leader Schumer and House Minority Leader McCarthy met today to discuss a COVID-19 relief bill.
Investors welcomed the news of the meeting, with stocks lifting in the hope that U.S. lawmakers may be closer to a stimulus deal. Investors seem instead to have already priced in the news of the vaccine distribution.
Stock of the day
Following the news by Nikkei Asia that Apple plans to produce 95 million iPhones in the first half of 2021, the stock (NASDAQ: AAPL) jumped today closing up 5%. The strong demand for the new 5G iPhones is demonstrated by a 30% increase in the production in comparison to 2020.
That’s all for this Tuesday’s stock market update. Stay tuned to receive your daily update!