Feb. 11, 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 (Thursday, February 11, 2021).
A new all-time high was reached both by the S&P 500 and by the Nasdaq today, closing up respectively 0.17% and 0.38%.
Why did the stock market move today?
According to unemployment data from the U.S. Department of Labor, 793,000 Americans applied for first-time unemployment benefits in the week ended on February 6. This represents a decline from last week’s number of 812,000, but remains higher that the expected 760,000.
With no news coming from Washington in relation to the COVID-19 relief bill, stocks prices have been mostly guided by earnings releases this week.
Stock of the day
After announcing that the company is preparing to support cryptocurrencies and will be allowing users to pay with cryptocurrencies, shares in Mastercard (NYSE: MA) jumped 2.59% today, closing at $342.87.
That’s all for this Thursday’s stock market update. Stay tuned to receive your daily update!