US stocks erase losses and close higher, led by tech sector

2020-11-19 23:15:00 GMT (Economies.com)
US stocks erase losses and close higher, led by tech sector

US stock indices closed higher on Thursday, erasing the early losses, driven by the tech sector and optimism about coronavirus vaccines.

 

With the rising coronavirus infections in the US and other countries, the need for an effective and safe Covid-19 vaccine is now higher than ever.

 

The American giant "Pfizer" and the German firm "BioNTech" announced on Wednesday that the recent data from the final phase of the clinical trials on their Covid-19 vaccine showed it was 95% effective.

 

The US Labor Department showed that initial unemployment claims rose to 742,000 from 711,000, worse than forecasts of 707,000.

 

To the oil market, WTI crude December futures fell 0.2% or 8 cents, and closed at $41.74 a barrel, after hitting a high of $41.8 and a low of $41.08.

 

Brent January futures fell 0.3% or 13 cents, to $44.20 a barrel, after hitting a high of $44.5 and a low of $43.7.

 

As for stocks, Dow Jones rose 0.1% or 45 points, and closed at 29,483, after hitting a day high of 29,524, and a low of 29,228.

 

Nasdaq rose 0.8% or 103 points to 11,904, with a high of 11,912 and a low of 11,760.

 

S&P 500 rose 0.4% or 14 points to 3,581, after hitting a high of 3,585 and a low of 3,544.

 
 
 
  Symbol Last Change Chg.%
1.1924
0.0030
0.2497%
1.3325
-0.0058
0.4300%
Tadawul
8693.47
65.41
0.76%
23.178
-0.867
3.606%
45.505
2.680
6.258%
48.23
0.44
0.92%
1806.935
-59.575
3.192%
 
 
US
 
Europe
 
Asia