Dec. 22, 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 22, 2020).
Whereas the S&P 500 and the Dow Jones closed negative today, down respectively 0.21% and 0.67%, the Nasdaq closed positive, up 0.51%.
Why did the stock market move today?
Elevated number of new COVID-19 infections and fear for the new variant of the virus spreading in the United Kingdom pulled stocks in negative field despite the approval of the relief bill by the Congress.
The good performance of the Nasdaq shows that investors still prefer to put their money in tech companies.
Stock of the day
Shares in Peloton Interactive went up almost 12% today, following the news of the agreement to buy the fitness-equipment provider Precor for $420 million. The stocks (NASDAQ: PTON) reached a new all-time high at $161.21.
That’s all for this Tuesday’s stock market update. Stay tuned to receive your daily update!