Thursday Stock Market Update
The Dow Jones Industrial Average and Nasdaq Composite gained, but the S&P 500 fell on Thursday.
- The Dow Jones Industrial Average gained 85.73 or 0.29 percent, to close at 29,969.52.
- The S&P 500 fell 0.06 percent to close at 3,666.72.
- The Nasdaq Composite gained 0.23 percent to close at 12,377.18.
The indexes were up slightly intraday before it was reported that Pfizer was having issues with its supply chain.
“As you move into 2021, there will be broader economic growth, it will be more inclusive, you will see continued fiscal stimulus – I do believe we will get a package. You’ll see the Fed continue. You have pent-up demand,” Brent Schutte, Northwestern Mutual chief investment strategist, said. “In 2021, you have a market that will move higher, but with different leadership that reflects more broad economy growth. Think the rotation that we’ve been talking about … it’s under way right now and it will continue into 2021. Think value, think small-cap, think emerging markets.”
On Friday keep an eye out for:
- Nonfarm payrolls
- Labor Force Participation Rate
- Unemployment rate
- Copart Inc., Associated British Foods Plc., and Berkley Group are reporting earnings.