Dec. 17, 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 17, 2020).
All three main indexes reached a new record high today! The S&P 500 closed up 0.58%, the Dow Jones up 0.49% and the Nasdaq up 0.84%.
Why did the stock market move today?
The optimism that lawmakers will reach a deal for a $900 billion COVID-19 relief bill pushed the stocks up today. This is in particular due to the fact that the package seems to include also a stimulus plan, i.e. with direct payments.
The number of unemployment claims in the week ended Dec 12. was released today by the U.S. Department of Labour and amounted to 885,000, representing an increase from last week (853,000). This news may have kept investor’s confidence for the near future at moderate levels.
Stock of the day
Following the news that Roku will carry HBO MAX streaming service starting today, the stocks (NASDAQ: ROKU) rose 7% in premarket but closed up only 1.12% at the end of the trading session.
That’s all for this Thursday’s stock market update. Stay tuned to receive your daily update!