Nasdaq Composite hits new record high as Market wraps up

Pfizer’s positive coronavirus vaccine data has boosted investor’s optimism towards stock market this Wednesday afternoon. With the mentioning of the vaccine against the pandemic, certainty on the economy’s worldwide recovery is now definite.

Aside for the vaccine which nullifies fears and anxiety on the growing numbers of confirmed coronavirus cases, the strong private payroll has also boosted the positivity that the reopening may happen and everything in the market will bounce back to normal.

Nasdaq Composite made another record high as an early trial experimental shot from Pfizer Inc. with its partner BioNtech SE showed that the vaccine is safe and prompted patients to produce antibodies.

S&P 500 followed Nasdaq’s lead after Elon Musk’s electric car business Tesla (TSLA) surged by 4% hitting a new record high to $1,120 per share, but The Dow is down around 0.3%.

Below are the movements in today’s market.

Stocks

• Dow closed down 0.3% for its first negative day in the third day of the week.
• Nasdaq Composite rose up by 0.95% to 1% at a new record close of 10,154.63.
• S&P 500 jumped up by 0.5% noting three consecutive gains in a week.
• The Stoxx Europe 600 Index rose 0.2%.
• The MSCI Asia Pacific Index increased 0.1%.

Bonds

• The yield on 10-year Treasuries increased two basis points to 0.68%.
• The yield on the 30-year Treasury bond climbed to 1.44%
• The yield on the 2-year Treasury is moved downward by 0.155%.

Commodities

• Gold Futures quite change a bit and is down by 0.64% or $11.30 to $1,770.59.
• West Texas Intermediate crude has increased by 1.40% to $39.82 a barrel.
• Brent crude is impressively up around by 2.6% to $42.05 a barrel.

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