Monday Stock Market Update
The Dow Jones Industrial Average and S&P 500 surged, while the Nasdaq Composite fell on Monday.
- The Dow Jones Industrial Average surged 834.57, or 2.95 percent, to close at 29,157.97.
- The S&P 500 rose 1.17 percent to close at 3,550.50.
- The Nasdaq Composite fell 1.53 percent to close at 11,713.78.
Equities surged after news broke that Pfizer and BioNTech had extremely positive vaccine trial results. Cyclical stocks that were decimated early by the pandemic were the biggest winners. The Dow hit a new intraday all-time high of 29,933.83 and had its best day since June 5. Work-from-home stocks sold off.
- The Dow is up 2.17% year to date
- S&P 500 is up 9.90% year to date
- Nasdaq is up 30.55% year to date.
On Tuesday keep an eye out for:
- Earning Reports for Adidas, Fuji Film, Lyft, and Team Viewer amongst others.
- Speeches by Federal Reserve Governors Randal Quarles and Lael Brainard and JOLTS job openings are due.