Another round of positive news on the coronavirus vaccine front lifted US equity markets, with cyclical stocks outperforming - Dow rallied +328-points or +1.12%, Boeing Co (up +5.97%) and Chevron Corp (+6.11%) among the leading index performers. Walt Disney Co (+3.48%), American Express Co (+3.12%) and Goldman Sachs Group Inc (+2.45%) also made solid positive contributions. A US$1 move in any of the Dow's 30 components equates to a 6.58-point swing. The broader S&P500 +0.56%, with Energy (up +7.09%) once again the clear outperformer and leading seven of the eleven primary sectors higher. Real Estate (down -0.34%) and Health Care (-0.30%) were the key laggards. The Nasdaq edged +0.22% higher. Apple Inc fell -2.97% and Netflix -2.38%. Tesla Inc (up +6.58%) moved closer toward hitting US$500B in market capitalisation ahead of its inclusion in the S&P 500 index next month. The small capitalisation Russell 2000 index outperformed with a +1.85% advance.
Another round of positive news on the coronavirus vaccine front lifted US equity markets, with cyclical stocks outperforming - Dow rallied +328-points or +1.12%, Boeing Co (up +5.97%) and Chevron Corp (+6.11%) among the leading index performers. Walt Disney Co (+3.48%), American Express Co (+3.12%) and Goldman Sachs Group Inc (+2.45%) also made solid positive contributions. A US$1 move in any of the Dow's 30 components equates to a 6.58-point swing. The broader S&P500 +0.56%, with Energy (up +7.09%) once again the clear outperformer and leading seven of the eleven primary sectors higher. Real Estate (down -0.34%) and Health Care (-0.30%) were the key laggards. The Nasdaq edged +0.22% higher. Apple Inc fell -2.97% and Netflix -2.38%. Tesla Inc (up +6.58%) moved closer toward hitting US$500B in market capitalisation ahead of its inclusion in the S&P 500 index next month. The small capitalisation Russell 2000 index outperformed with a +1.85% advance.
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