Stocks Today: 12.31.2020 – stock market update

Dec. 31, 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 31, 2020).

All main indexes reached a new all-time high in this last trading day of the year! The S&P 500 closed up 0.64%, the Dow Jones up 0.65% and the Nasdaq up 0.14%.

Why did the stock market move today?

A sign of slight improvement for the economy came from new data relating to U.S. unemployment claims, with 787,000 Americans applying for unemployment benefits. This number refers to the week ended on December 26 and is down from the 806,000 registered in the prior week.

The rally seen in the last week of the year might also reflect optimism about the next year with hopes for a recovery in the economy in 2021.

Stock of the day

Following the news that the company will be added to the S&P 500 index on January 7, investors in Enphase Energy Inc. (NASDAQ: ENPH) saw their shares jump today. Stocks of the energy technology company, specializing in software-driven home energy solutions, closed up 1.47% today.

That’s all for this Thursday, last stock market update for 2020. Stay tuned to receive your daily update!