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Stock market today November 9, 2020

Stock market today

A stock market rally today with Dow Jones making a record intraday high. Dow Jones gained 834 points, Nasdaq underperformed, and fell 181 points. Some profit-taking at the end of the stock market session today. Small-cap stocks outperformed. The closing numbers for the US stock market today are:

S&P 500: 3,550.50,+41.06(+1.17%)
Dow 30: 29,157.97,+834.57(+2.95%)
Nasdaq: 11,713.78,-181.45(-1.53%)
Russell 2000: 1,713.17,+69.01(+4.20%)

Stock market news

“Stocks sailed to record highs Monday as traders took in promising data on a leading COVID-19 vaccine candidate as well as President-elect Joe Biden’s victory in the U.S. presidential election, ending a days-long nail-biter over which candidate would prevail in winning the White House.

The S&P 500 jumped 3.6% to more than 3,600 shortly after market open, topping its previous record intraday high of 3,588.11 from September, and its record closing high from that same day. The Dow gained 1,488.43 points, or 5.3% to its own all-time high of more than 29,800. The Dow’s previous record intraday high was 29,568.57 from February.

The Nasdaq lagged, however, as hopes for a vaccine prompted traders to turn away from software stocks and other members of “stay-at-home” trade. Shares of Zoom Video Communications (ZM) tumbled more than 16% to pace toward its worst day in 2020, and Peloton (PTON) sold off more than 21%. However, stocks poised to benefit from a broader economic reopening including airlines, cruise lines and lodging firms each surged.

Shares of Pfizer (PFE) jumped more than 8% after the company announced that their clinical trial showed that their vaccine candidate was more than 90% effective in preventing COVID-19 in participants with no evidence of a previous coronavirus infection. Shares of BioNTech (BNTX), which is working on the vaccine alongside Pfizer, also gained more than 16%.”

Stock market source: Yahoo Finance

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