Jan. 22, 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 (Friday, January 22, 2021).
While the S&P 500 and the Dow Jones closed negative today, down respectively 0.3% and 0.57%, the Russell 2000 reached a new all-time high today closing up 1.28%.
Why did the stock market move today?
The positive reaction seen among small-cap stocks today shows that optimism is still high for the effects of economic stimulus on so-called “recovery stocks”, the companies most hardly hit by the pandemic.
Stock of the day
After reporting revenues that fell more than analyst expected, stocks in IBM (NYSE: IBM) closed down 9.91% today. This quarter was the fourth consecutive of revenue decline for IBM.
That’s all for this Friday’s stock market update. Stay tuned to receive your daily update!