Stocks Today: 12.30.2020 – stock market update

Dec. 30, 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 (Wednesday, December 30, 2020).

All main indexes closed positive today with the S&P 500 up 0.13%, the Dow Jones up 0.24% and the Nasdaq up 0.15%. Gaining almost 74 points, the Dow Jones reached a new all-time high today.

Why did the stock market move today?

Investors reacted positively to today’s news that also AstraZeneca’s COVID-19 vaccine was authorized for distribution in the United Kingdom.

The ongoing rollout of vaccines together with hopes for an increase in the stimulus check amount offset the negative news today, a day that saw a record number of COVID-19 related hospitalizations in the U.S..

Stock of the day

China and the European Union finalized an investment agreement today that promises to give European companies a greater access to the Chinese market. Such news had a great impact on the price of several Chinese companies’ stocks.

In this context, rumours that Baidu (NASDAQ: BIDU) is considering to enter the electric-powered autonomous vehicle market made its stocks jump 12.59% today.

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