Stocks close flat, Goldman Sachs leads banks higher; European markets close mixed as investors focus on coronavirus, U.S. politics; BELEX15 up 0.18%
Stocks rose slightly on Tuesday as interest rates continued their ascent amid increasing prospects for more coronavirus stimulus from lawmakers under the incoming Biden administration.
The Dow Jones Industrial Average climbed 41 points, or 0.1%, and the Nasdaq Composite also traded 0.1% higher. The S&P 500 was flat. Losses from major tech companies kept Tuesday’s moves in check.
Bank stocks contributed to Tuesday’s slight gains. Goldman Sachs and JPMorgan Chase were up 2.5% and 1.7%, respectively. Bank of America traded 1.6% higher. Charles Schwab gained about 1% and hit an all-time high.
Facebook, Netflix and Alphabet all fell more than 2%. Microsoft and Apple traded lower by 1.7% and 1.1%, respectively. Amazon lost 0.6%. Those losses for Big Tech follow a rise in U.S. interest rates.
The pan-European Stoxx 600 closed just a touch above the flatline Tuesday, with autos stocks adding 1.7% while utilities shares dropped 1.5%.
In terms of individual share price movement Tuesday, Swiss online pharmacy Zur Rose Group surged 14.9% after Bank of America initiated the stock at a “buy” recommendation.
BELEX15 was up only light 0.18% as NIS loss of 2.5%, was enough to neutralize most of positive contribution from Komercijana Banka. The most active name was also NIS, with RSD 2m in volume.
Source: CNBC, Ilirika