(04 December 2020)DAILY MARKET BRIEF 1:US Indexes Update Record Highs
<p>Nasdaq and the S&P 500 updated their all-time highs on Thursday, while the Dow broke above 30,000 again for a while. However, the stock indexes took different routes by the end of the session, as the S&P ended lower. The bullish sentiment was driven by hopes that a COVID vaccine would revive the economy. On the other side, bears pointed to downbeat economic data and Pfizer’s cut of supply target. The tech-oriented Nasdaq rose 0.23%, the Dow added 0.29%, while the S&P 500 fell 0.06%. Seven of the 11 major sectors within the S&P moved higher, with energy being the best performer. The US Labor Department data showed that the number of US citizens applying for unemployment benefits dropped last week against expectations, but maintained high amid restrictions. Still, economists argue that the decline might have been influenced by Thanksgiving Day, which could have interfered with the way the government smoothens seasonal fluctuations from the data. Initial jobless claims fel</p>
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