Stock market today December 21, 2020
December 21, 2020
stock market today
The US stock market recovered from previously losses, at the open and closed little changed. The figures for the US stock market at the close today:
S&P 500: 3,694.92,-14.49(-0.39%)
Dow 30: 30,216.45,+37.40(+0.12%)
Russell 2000: 1,968.01,-1.97(-0.10%)
stock market news
Stocks pared losses on Monday as concerns mounted over a new infectious strain of the coronavirus identified in the UK.
The Dow turned positive and ended slightly higher after dropping more than 400 points, or 1.4%, at session lows. The S&P 500 and Nasdaq were still negative Monday afternoon, however, and stocks poised to benefit from an economic reopening – including airlines, cruise lines and lodging firms – fell sharply, unwinding some of the gains made over the past month amid rising vaccine optimism. The CBOE Volatility Index (^VIX) briefly spiked above 30 for the first time in five weeks.
Populous parts of the UK including London went back into a more draconian state of lockdown over the weekend, after the discovery of a new variant of COVID-19 said by experts to be 70% more transmittable than the earlier version of the virus in the country. The UK’s FTSE 100 index (^FTSE) sank 1.7%, and the pound fell 1.9% again the dollar (GBPUSD=X) Monday morning in New York before paring losses.
More than two dozen countries have imposed travel bans on the UK over the past couple days, with the duration of the restrictions spanning from days to months. Some key countries, including France, banned both travel and freight to and from the country, leading to possible food shortages in Britain ahead of the Christmas holiday.
The new developments around COVID-19 at least temporarily outweighed more upbeat news on the political front in the U.S. on Sunday, as lawmakers reached a deal for a $900 billion virus-relief package and government spending package for the fiscal year. This ended a months-long stalemate over more relief among congressional lawmakers and White House officials, with discussions over the package accelerating this month as a year-end expiration of key unemployment programs drew near.
The stimulus package will include another round of direct checks to Americans of $600, enhanced federal unemployment benefits of $300 per week, and funds for small businesses and vaccine distribution. Some of the more contentious points of earlier stimulus negotiations – including state and local government aid and liability protections for businesses – were omitted from this deal. The text of the 5,593-page bill was released Monday afternoon.”
Stock market source: Yahoo Finance