December 1, 2020

December 1, 2020

Stocks moved higher today, with every major index finishing up about 1%. In economic news, pending home sales dropped 1.1% in October.

Dow Jones +185 at 29,824

S&P 500 +41 at 3,662

NASDAQ +156 at 12,355

 

The 10 Year Treasury closed up 9 basis points yielding 0.93%

Oil prices closed down $0.79 ending at $44.55 a barrel

Gold prices closed up $38 ending at $1,814 an ounce

 

In corporate news:

  • Shares of the electric vehicle maker, Nio, dropped 10% despite the company announcing it delivered 5,291 vehicles in November, which is 109% higher than this time last year. Goldman Sachs also upgraded the stock.
  • Pfizer and BioNTech announced they are applying for authorization of their Covid-19 vaccine in Europe by the end of this month. Pfizer shares increased about 3% today.
  • Tesla shares moved 3% higher after it was announced that the stock will be added to the S&P 500 in one step, rather than multiple steps like people originally thought.

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