Dow stages 325-point U-turn as COVID lockdowns seen intensifying amid U.S. vaccine rollout The Dow on Monday afternoon pulled back sharply from an intraday record, as investors weighed the U.S. rollout of a COVID-19 vaccine against tightening COVID-19 restrictions implemented in New York City and parts of Europe ahead of Christmas.
What are major benchmarks doing?
The Dow Jones Industrial Average DJIA, -0.62% slumped 35 points, or 0.1%, to about 30,008. Earlier, the index hit an intraday record at 30,325.79.
The S&P 500 SPX, -0.44% was flat to slightly higher near 3,664.
The Nasdaq Composite COMP, 0.50% advanced about 111 points, or 0.9%, to about 12,489.
Stocks posted a mixed finish Friday, leaving benchmarks with modest losses for the week. The Dow saw a 0.6% weekly fall, while the S&P 500 fell 1% and the Nasdaq declined 0.7%. The small-cap Russell 2000, however, saw a sixth straight weekly gain, rising 1%.
What’s driving the market?
“The market is swinging back and forth because of the potential for further lockdowns,†Brent Schutte, chief investment strategist, Northwestern Mutual Wealth Management Company told MarketWatch........
https://www.marketwatch.com/story/dow-futures-rise-over-200-points-as-vaccine-rollout-begins-11607947977?mod=home-page