Monday Stock Market Update
The Dow Jones Industrial Average and S&P 500 fell while the Nasdaq Composite gained on Monday.
- The Dow Jones Industrial Average fell 186.13 or 0.62 percent, to close at 29,860.24.
- The S&P 500 fell 0.44 percent to close at 3,647.41.
- The Nasdaq Composite gained 0.50 percent to close at 12,440.04.
The Dow turned negative after investors weighed potential lockdowns and the incompetency of lawmakers in passing a stimulus bill. New York City Mayer Bill de Blasio publicly stated that the city may need to return to a "full shutdown."
The first doses of Pfizer and BioNTech's COVID-19 vaccine were administered to American on Monday. Around 2.9 million doses will be administered in the initial batch of vaccines.
“With the vaccine now shipping, we expect greater reaction from the broader market over the potential return to normal,” Bank of American equity strategists said Monday. Still, they added, “we caution much work remains to vaccinate the population and don't expect to see major progress until after mid-21.”
On Tuesday keep an eye out for:
- Month-over-month industrial production data
- Nordson Corp., OHARA Inc., and Park24 Co Ltd. are reporting earnings.