Stock market today November 27, 2020
November 27, 2020
stock market today
A higher close for the US stock market today, the S&P 500 and Nasdaq made new records. The closing numbers for the US stock market today are:
S&P 500: 3,638.35,+8.70 (+0.24%)
Dow 30: 29,910.37,+37.90 (+0.13%)
Nasdaq: 12,205.85,+111.44 (+0.92%)
Russell 2000: 1,855.27,+10.25 (+0.56%)
stock market news
“Wall Street rose on Friday, with stocks posting marginal new highs in thin, post-Thanksgiving trading, as hopes for a COVID-19 vaccine momentarily counterbalance soaring infection rates.
The New York Stock Exchange closed early for the Thanksgiving holiday. Stocks are consolidated their gains after the Dow Jones Industrial Average was catapulted above 30,000 for the first time ever on Tuesday, with an increasing number of investors encouraged by expectations that a vaccine will be rolled out by early next year, if not sooner.
“In the US, we expect the first available doses to go to high-risk groups from mid-December onwards, leading to significant public health benefits from [the first quarter of 2021] onwards, followed by widespread vaccination commencing in April,” Goldman Sachs economists wrote in a research note on Friday.
“While the exact timeline remains quite uncertain, this analysis reinforces our baseline forecast that widespread immunization should drive a sharp pickup in global growth starting in Q2,” the bank added.
As an indication of how investors are pricing in the upside, the CBOE Volatility Index (VIX) — the market’s “fear gauge” — briefly dipped below 20 on Friday, its lowest level in 9 months. The Dow (^DJI) closed below the critical 30,000 threshold, but is up more than 13% this month — more than 10,000 points higher than the multi-year low it breached in March, when panic over the virus’ spread cratered global markets.
Separately, the the S&P 500 (^GSPC), Nasdaq and the Russell 2000 (RUT) index also set fresh historic highs. Until recently, the technology-heavy Nasdaq has lagged other indexes as investors rotate out of “stay at home” stalwarts benefiting from coronavirus-related lockdowns.”