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Markets / Commentaries

Stock Market Today: November 25, 2020

Harvey S. Katz, CFA | 11/25/2020

It was a heavy news day that greeted Wall Street investors yesterday morning, as key economic and political developments unfolded. On the business side, we saw a rather listless survey on consumer confidence issued, with rising COVID-19 cases apparently leading to a modest dip in that index. On the political front, meantime, the last 24 hours yielded further progress in finally starting to bring about an official transition between the outgoing Administration in Washington and the incoming one headed by President-Elect Joe Biden.



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Markets / Commentaries
Stock Market Today: November 24, 2020

John E. Seibert III | 11/24/2020

The stock market started strongly yesterday, as news of a third vaccine candidate improved sentiment. Traders bought stocks thinking this would mean a quicker recovery from the coronavirus pandemic and that an economic rebound would occur more quickly. The Dow Jones Industrial Average was up by as many as 306 points in short order, while the S&P 500 was ahead 31 points. However, the markets quickly became overbought and then turned back some. Then, near midday, news broke that President-Elect Biden picked former Fed chief Janet Yellen to be his Treasury Secretary.

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Markets / Commentaries
Stock Market Today: November 23, 2020

Harvey S. Katz, CFA | 11/23/2020

Wall Street soon will start a new week following an up-and-down five day span, which saw the leading equity averages surge at the outset and fade by the close. This uneven pattern reflected good news very early in the week, as drug maker Moderna (MRNA) followed pharmaceuticals giant Pfizer (PFE) in announcing a vaccine to prevent COVID-19. Then, as the week proceeded, the realization that until there is mass distribution of these vaccines, which may not happen until well into the spring, the market will face soaring cases of this disease.



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Markets / Commentaries
Stock Market Today: November 20, 2020

Harvey S. Katz, CFA | 11/20/2020

After some fireworks the first three sessions of this week, as the stock market initially soared on positive news on the COVID-19 vaccine front from Moderna (MRNA) and Pfizer (PFE), the equity market pulled back on Tuesday and Wednesday on concerns about the increasing financial and human cost of this pandemic in the form of likely lockdowns and business and school closures. Then, yesterday, things seemed to calm down somewhat and a less frenetic response from investors took hold.

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Markets / Commentaries
Stock Market Today: November 19, 2020

Harvey S. Katz, CFA | 11/19/2020

The stock market reversed course during the first two weeks of November, eclipsing the losses of the previous two months, in the process. Monday saw a stealth increase owing to optimism about a coronavirus vaccine. However, concerns over rising COVID-19 cases and the potential lockdown caused the market to lose ground on Tuesday and Wednesday. Looking out to a new day, the futures are pointing to a slightly lower opening on Wall Street this morning.

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Markets / Commentaries
Stock Market Today:November 18, 2020

Harvey S. Katz, CFA | 11/18/2020

The new week started out on a strong up note for Wall Street, as news of a second vaccine for preventing the deadly COVID-19 virus, this time from drug maker Moderna (MRNA), helped drive the Dow Jones Industrial Average up by 470 points, to a record closing high just south of 30,000, on Monday. That strong upsurge, which also included meaningful gains by the other equity indexes, however, did not carry over to trading yesterday morning, as the Dow, the S&P 500, and the NASDAQ all retreated initially.

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Markets / Commentaries
Stock Market Today: November 17, 2020

Mario Ferro | 11/17/2020

Wall Street soared higher yesterday, building upon last week’s gain. Traders were injected with a large boost of confidence after Moderna (MRNA) announced promising Phase III trial data for its vaccination candidate. The Dow Jones Industrials ended the session up 470 points, or 1.6%, marking a record high. The S&P 500 also reached new heights, advancing 41 points (1.2%), while the tech-heavy NASDAQ added 94 points (.8%). As we look to the new day, U.S. stock futures are suggesting some profit taking at the opening bell. Stay tuned.

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Markets / Commentaries
Stock Market Today: November 16, 2020

William G. Ferguson | 11/16/2020

As we hit the midway point of November, the month has thus far proven to be a very constructive one for those long equities. The Dow Jones Industrial Average has produced two-straight winning weeks, including last week’s gain of 4.1%. That is not to say it has be clear sailing for investors, as the last fortnight of trading has seen some bifurcated performances for the major averages, the product of some notable sector rotation.

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Markets / Commentaries
Stock Market Today: November 13, 2020

Harvey S. Katz, CFA | 11/13/2020

The stock market, which pressed higher to begin this week, entered the penultimate session of this five-day span on a mixed note, with the Dow Jones Industrial Average, a big winner several days earlier on positive COVID-19 vaccine news, dipping at the open, while the NASDAQ pressed forward. Among the early factors in the uneven trading was a better-than-expected report on weekly unemployment claims. Such filings came in at 709,000 for the latest seven days, 48,000 below the prior week's tally and under expectations.

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