Major Benchmarks Reverse Records Amid Stalled Stimulus Talks

COVID-19 cases increased by 1 million in just four days

Digital Content Manager
Dec 9, 2020 at 4:35 PM
facebook X logo linkedin

After breaking records earlier today, stocks took a breather this afternoon to ultimately finish the day in the red. Tech giants Apple (AAPL) and Microsoft (MSFT) struggled, and stimulus talks remain far from conclusion. The downfall was a comment from Senate Majority Leader Mitch McConnell, who said the two parties were “still looking for a way forward” after Treasury Secretary Steven Mnuchin proposed a $916 billion stimulus plan. McConnell added he wants to set aside liability protection, as well as state and local relief, in a proposal that was swiftly rejected by Senate Democrats.

In turn, the Dow fell roughly 100 points, while the S&P 500 and Nasdaq registered significant losses as well, with the semiconductor sector taking on water in particular. Elsewhere, investors remain wary of the rising number of COVID-19 infections. In just the last four days, cases have grown by 1 million to reach a record of 15 million. On average, 200,000 Americans are testing positive for the disease each day, according to Johns Hopkins University data. 

Continue reading for more on today's market, including:

  • A security breach sent FireEye stock plummeting.
  • Chewy stock scored slew of post-earnings bull notes.
  • Plus, bet against this lackluster gold stock; GameStop stock drops on revenue miss; and did General Mills come out on top of the pandemic?

The Dow Jones Industrial Average (DJI - 30,068.81) fell 105.07 points, or 0.4% on the day. Goldman Sachs (GS) led the Dow components with a 1.7% rise, while (CRM) paced the laggards, falling 3.2%.

Meanwhile, the S&P 500 Index (SPX - 3,672.82) dropped 29.4 points, or 0.8% for the day. The Nasdaq Composite (IXIC - 12,338.95) was down 243.8 points, or 1.9% for the day.

Lastly, the Cboe Volatility Index (VIX - 22.27) added 1.6 points, or 7.7% for the day.

 Closing Summary Dec 9

nyse nasdaq dec 9

  1. President Trump said he will join Texas Attorney General Ken Paxton in a legal effort at the Supreme Court that seeks to reverse Joe Biden’s election win. (CNBC)
  2. After two adverse cases, U.K. regulators are telling those with a history of severe allergic reactions to avoid the Pfizer (PFE) COVID-19 vaccine. (MarketWatch)
  3. Now is the right time to bet against this underperforming gold stock.
  4. GameStop stock took a tumble after a third-quarter revenue miss.
  5. Did General Mills stock avoid the negative impacts of the pandemic?

Earnings Dec 9


Gold Snaps Winning Streak to Log Worst Day in a Week

Oil prices finished today's volatile session slightly higher, after the Energy Information Administration (EIA) increased crude supplies to more than 15 million barrels a week. January-dated crude shed eight cents, or 0.2%, to settle at $45.52 a barrel.

Meanwhile, gold prices snapped a three-day winning streak to end at their lowest level in a week. The negative price action was attributed to a strengthening U.S. dollar and lack of progress in stimulus talks, after Senate Majority Leader Mitch McConnell claimed that Democratic leaders were uncooperative. In turn, February-dated gold dropped $36.40, or 1.9%, to settle at $1,838.50 an ounce for the day.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI