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Dow rises as financial strength to offset energy resistance by Investing.com

© Reuters

By Yasin Ebrahim

Investing.com – Dow puts broader markets on track to offset energy weaknesses and boost pandemic-fueled 2020 significantly on Thursday’s final trading day I struggled for direction.

It rose 0.42%, or 127 points, but is moving at a pace of more than 15% at the end of the year. Increased by 0.26%, but increased by 0.26%.

Led by Willis Towers Watson PLC (NASDAQ :), finances rose by more than 1%. MSCI Inc (NYSE :) and Aon (NYSE :).

Energy, which is declining by about 35% annually, has abandoned some of its profits from the previous day as new stocks of coronavirus continue to raise concerns about the outlook for oil demand and oil prices have fallen due to further regulatory concerns. Did.

Dr. Henry Walk, Covid Incident Manager at the Centers for Disease Control and Prevention, said Wednesday: “Mutants can spread more rapidly, leading to more cases and putting more strain on the already burdened healthcare system. There is. “

The continued increase in cases did not appear in the latest weekly unemployment claims report, but analysts expect it to affect next week’s non-farm payrolls report in December. ..

The number of Americans applying for unemployment insurance has fallen unexpectedly by 19,000 to 787,000, compared to economists’ forecast of 835,000.

“The improvement doesn’t fit the explanation for the tightening of COVID restrictions, but given the increase in initial billing during the December-November survey week, payroll is likely to be negative. I understand, “said Jeffreys (NYSE :) in a memo.

Tech rose more than 17% from its March lows, but was one of the biggest declines of the day as traders appeared to be profiting on Fab 5 shares in the sector.

Microsoft (NASDAQ :), Facebook (NASDAQ :), Apple (NASDAQ :) and Amazon.com (NASDAQ :) were low, but Google (NASDAQ :) traded green.

Western Digital (NASDAQ :) But after Samsung (KS :) and Hynix set conservative DRAM spending targets for 2021, they receded broad sector movement after a 11% surge from expectations that memory product supply would decline. I did.

In other news, Tesla (NASDAQ :) continued to bet on electric car makers to offer better-than-expected fourth-quarter sales when investors reported next week’s deliveries, resulting in a profit from the previous day. We set a new record by adding%.

Tesla is profiting more than 750% annually, ending this year at a high after being recently added to the S & P 500 following four consecutive quarters of growth.

Wall Street expects more in 2021 as the curtain closes in a booming year for the market.

“In 2020, equity investors experienced the longest bull market in history, the shortest bear market on record, and the final stage of a tremendous rebound that marks the beginning of a new bull market … 2021 is so turbulent. I don’t think it’s going to happen, but we expect the stock market to continue to rise by 2020. ” Wells Fargo (NYSE :) I said in a memo.



Dow rises as financial strength to offset energy resistance by Investing.com

https://www.investing.com/news/stock-market-news/dow-struggles-for-direction-but-bulls-celebrate-strong-gains-for-2020-2378151 Dow rises as financial strength to offset energy resistance by Investing.com

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