Feb. 17, 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 (Wednesday, February 17, 2021).
For the second day in a row, the S&P 500 and the Nasdaq closed negative, down respectively 0.03% and 0.58% today. The Dow Jones closed up 0.29% instead and reached a new all-time high.
Why did the stock market move today?
The latest retail sales report showed that spending increased in January after three months of decline during the holidays. Nevertheless, this wasn’t enough to boost investors’ optimism today as investors may be starting to take inflation in serious consideration. The rise in the price of Bitcoin might also reveal a hedge strategy in light of upcoming stimulus.
Stock of the day
Following the publication of Berkshire Hathaway’s latest 13F filing, shares in Verizon jumped 5.19% today, as Warren Buffett’s fund revealed it added 146.7 million shares of Verizon to the portfolio.
That’s all for this Wednesday’s stock market update. Stay tuned to receive your daily update!