S&P 500, Nasdaq reach historic highs on trade, vaccine hopes

26.08.2020 - Evdokimov Roman
S&P 500, Nasdaq reach historic highs on trade, vaccine hopes

The S&P 500 and the Nasdaq reached record highs on Tuesday. However, gains fuelled by encouraging developments in Sino-U.S. trade and medical breakthroughs to combat the coronavirus were heavily dragged by a decline in Apple shares.

Apple Inc’s subdued performance greatly affected all three indexes as its stocks declined 0.8%. This came before the company’s 4-to-1 stock split. Moreover, the split resulted in a reshuffle in the blue-chip industrial average.

Salesforce.com, which jumped 3.6%, took Exxon Mobil Corp’s spot. Amgen Inc, which soared 3.2%, replaced Pfizer Inc, while Honeywell International Inc, which advanced 5.4%, claimed Raytheon Technologies Corp’s spot.

“These changes reflect what has occurred in the overall business environment,” said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?