Feb. 8, 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, February 8, 2021).
All main indexes reached a new record high today! The S&P 500 closed up 0.74%, the Dow Jones up 0.76% and the Nasdaq up 0.95% today.
Why did the stock market move today?
The possibility of having a relief bill approved by the end of February, coupled with a paced COVID-19 vaccine distribution and better than expected earnings’ results, played a role in pushing stock indexes to record highs today.
Optimism for a near economic recovery can be seen by the great performance of the small-cap index, the Russel 2000, which closed up 2.53% and reached a new all-time high today.
Stock of the day
Following the news that the company will be partnering with IBM for several cloud applications, shares in Palantir (NYSE: PLTR) jumped almost 6% today.
That’s all for this Monday’s stock market update. Stay tuned to receive your daily update!