SPX Nabs Record Close on Heels of Upbeat Vaccine News

President Joe Biden said he secured another 200 million Covid-19 vaccine doses

Digital Content Manager
Feb 12, 2021 at 4:34 PM
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Stocks are heading into the holiday weekend with slight gains, as investors take a step back from February's wild rally, while still looking for signs of economic recovery. Also making headlines today was the extra 200 million Covid-19 doses U.S. President Joe Biden secured from Moderna (MRNA) and Pfizer (PFE), bringing the total of U.S. shots to 600 million. Additionally, the president said by summer there would be enough supply for 300 million Americans to be inoculated. In turn, the Dow inched 27 points higher in the last few moments of trading, and both the S&P 500 and and Nasdaq held onto marginal gains, while the former eked out a record close. For the week, all three major indexes were higher.

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

  • Verisign stock got a boost from its earnings beat today.
  • Pharmaceutical stock was eyeing its 10th-straight win.
  • Plus, surprise DIS results attract call traders; the cannabis stock getting roasted; and this retailer is picking up steam.

The Dow Jones Industrial Average (DJI - 31,458.40) jumped 27.7 points, or 0.09% on the day, and 1% on the week. Intel (INTC) led the Dow components with a 1.9% rise, while Walt Disney (DIS) paced the laggards, falling 1.7%.

Meanwhile, the S&P 500 Index (SPX - 3,934.83) added 18.5 points, or 0.5% for the day, and 1.3% on the week. The Nasdaq Composite (IXIC - 14,095.47) rose 69.7 points, or 0.5% for the day, and 1.7% on the week.

Lastly, the Cboe Volatility Index (VIX - 19.97) lost 1.3 point, or 6% for the day, and 4.3% for the week.

index summary feb 12

nyse and nasdaq feb 12

  1. President Biden's climate change strategy may include paying farmers to cut their carbon footprint using aid from USDA’s Commodity Credit Corporation. (CNBC)
  2. The U.S. vaccine rollout is entering a new phase, with the federal government now delivering doses directly to drugstore chains and pharmacies across the country. (MarketWatch)
  3. Options bulls piled on Walt Disney stock after its unexpected win.
  4. Why MKM Partners roasted this cannabis giant after earnings.
  5. The retail leader picking up steam ahead of its quarterly report.

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Gold Nabs First Weekly Rise Since Late January

Oil prices finished higher on Friday, as House Democrats continued to make progress towards another round of economic relief, and a the Biden administration responded to tensions with the Iran-backed Houthis rebels and Saudi Arabia. In response, March-dated crude rose $1.23, or 2.1%, to settle at $59.47 per barrel for the day. For the week, the commodity added 4.6%.

Gold prices were lower, on the other hand, as stronger U.S. Treasury yields added more pressure to the yellow metal. Nonetheless, gold still nabbed its first weekly rise since late January, with a 0.6% gain. For the day, April-dated gold dropped $3.60, or 0.2%, to settle at $1,823.20 an ounce.

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