BY THE NUMBERS Dow and Nasdaq futures pointed to gains at Wednesday’s open, and tech stocks bounced after two rough days. The Nasdaq closed in the red again Tuesday, down nearly 3% this week, in a rotation out of stay-at-home stocks after Pfizer ’s positive Covid-19 vaccine data Monday raised hopes that life may soon be able to return to some semblance of normal.
The U.S. bond market is closed Wednesday for Veterans Day . (CNBC) The Dow Jones Industrial Average has been a beneficiary of renewed interest in value stocks in the past two sessions, with a 262 point gain Tuesday and an 834 point rise Monday, equal to an almost 4% advance this week on top of last week’s rally. As of Tuesday’s close, the Dow was only 131 points from its February record high close. (CNBC) * Goldman sees S&P 500 rallying to 4,300 by end of 2021 on vaccine, divided government (CNBC Pro) * OPEC cuts 2020 oil demand forecast again on rising Covid cases (CNBC) Another record low rate on 30-year fixed mortgages last week did not help bring out home buyers. Mortgage application volume fell 0.5% compared with the previous week. Loan amounts […]
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