Tuesday Stock Market Update
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite gained on Tuesday.
- The Dow Jones Industrial Average gained 185.28 or 0.63 percent, to close at 29,823.92.
- The S&P 500 gained 1.13 percent to close at 3,662.45.
- The Nasdaq Composite gained 1.28 percent to close at 12,355.11.
Many analysts believe the rally will continue through December.
“In early November, when we saw the VIX (^VIX) spike to 40, it was because of COVID. It was because of surging cases, not just here in the states but really across the world,” Alfred Eskandar, Salt Financial President, said. “And conversely, you see the VIX coming down to the levels where it is today, by nearly half, also because of positive news on the vaccine. So the market is very, very sensitive to what is happening with COVID.”
“There's definitely a lot of reasons to be exposed to equities now and into the near future,” he added. “The optimistic viewpoint is certainly alive and well.”
On Wednesday keep an eye out for:
- ADP Employment Change Data
- Microsoft, CrowdStrike, Royal Bank of Canada, Zscaler, and Five Below are reporting earnings.