Jan. 4, 2021
Good evening everyone! Welcome to a new episode of “Stocks Today”, explaining what forces moved the stocks in the U.S. equity market today (Monday, January 4, 2021).
All main indexes closed negative in this first trading day of the year. The S&P 500 closed down 1.48%, the Dow Jones down 1.25% and the Nasdaq down 1.47% today.
Why did the stock market move today?
The pessimistic outlook for the near future was caused by uncertainties around Tuesday’s Georgia elections, which will determine whether the new elected Democratic President will be able to hold control in the Senate. This is going to have an impact on the President’s ability to enact some of the disputed reforms.
But investors may also be acknowledging that the path to an economic recovery will be long and difficult because of the ongoing pandemic. A new record high was reached in the number of hospitalizations in the U.S. on Sunday, while more and more lockdowns are being ordered across Europe.
Stock of the day
Following Sunday’s announcement that the company delivered a record number of cars for December (7,007), NIO stocks (NYSE: NIO) jumped more than 9% today.
According to the information provided, the company delivered 17,353 vehicles during the last quarter. This represents more than double the number delivered for the same quarter last year. Overall NIO has now delivered 75,641 cars.
That’s all for this Monday, first stock market update for 2021. Stay tuned to receive your daily update!