Jan. 25, 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 25, 2021).
Both the S&P 500 and the Nasdaq reached new all-time highs today, closing respectively up 0.36% and 0.69%.
Why did the stock market move today?
Concerns about the supply and efficacy of COVID-19 vaccines influenced the sentiment around a near economic recovery. After the trials of their vaccine gave disappointed results, many now consider the pharmaceutical company Merck out of the vaccine race. Furthermore, doubts around the efficacy of the vaccines already in distribution might also have scared the market and hyped some stocks from the tech sector.
Markets experienced a sudden dip during the trading day as Senate Majority Leader Schumer said that the Congress aims to approve the next relief bill within the next four to six weeks.
Stock of the day
The effects of the massive short squeeze on GameStop (NYSE: GME) were still seen today, with the stock gaining 18.12% today and almost 16% in after hours.
That’s all for this Monday’s stock market update. Stay tuned to receive your daily update!