November 20, 2020

November 20, 2020

Stocks closed lower today as rising new coronavirus cases, coupled with questions around central-bank funding for key emergency programs, cast doubt on a swift economic recovery.

 

Dow Jones finished -220 at 29,263

S&P 500 finished -24 at 3,557

NASDAQ finished -50 at 11,854

 

The 10 Year Treasury closed down 2 basis points yielding 0.83%

Oil prices closed up $0.43 ending at $42.17 a barrel

Gold prices closed up $10.70 ending at $1,872 an ounce

 

In the days’ stock news:

 

  • Pfizer stock gained 1.4% after Pfizer announced that it would apply on Friday for emergency use authorization for its Covid-19 vaccine. The approval process from the Food and Drug Administration is expected to take a few weeks, and some Americans could receive the vaccine by the end of the year.
  • Zoom Video jumped more than 6% amid a rise in Covid-19 cases. Zoom has been one of the key “stay-at-home” trades, and shares are up 550% this year.

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