Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dow Eases From Record on Fears of Further Virus Restrictions

Stock MarketsDec 14, 2020 03:15PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Yasin Ebrahim

Investing.com - The Dow eased from a record on Monday as investors weighed up the risk of further restrictions in the U.S. to curb an expected surge in the spread of the virus over the holidays against optimism over the Pfizer-BioNTech vaccine rollout and renewed efforts on Capitol Hill to reach a stimulus deal.

The Dow Jones Industrial Average fell 0.13%, or 39 points after hitting an intraday record of 30,325.79.  The S&P 500 was up 0.03%, while the Nasdaq Composite gained 0.90%.

Mayor Bill de Blasio said New Yorkers should "prepare for the possibility for a full shutdown" after Gov. Andrew Cuomo over the weekend warned that the city could enter a full shutdown within a month.

On Sunday, New York reported 206 hospitalizations, above the city’s 200 limit, following 2,209 new cases that took the seven-day average positivity rate of 5.53%.

Fears other parts of the U.S. could be set for further restrictions in the coming weeks offset fresh hopes for a stimulus deal.

U.S. lawmakers have proposed to split the $908 billion stimulus bill into two parts: a $748 billion proposal that has bipartisan support including aid for vaccine distribution and unemployed benefits, and the other, a $160 billion bill for state and local support and temporary Covid-19 liability protection.

The proposed new path toward getting a stimulus deal over the line stoked investor expectations that lawmakers would be able to deliver some form of stimulus before the congressional holiday recess on Friday.

Efforts in the ongoing battle against the pandemic received a major boost on Monday as the U.S. began rolling out the Pfizer-Biotech vaccine after the FDA granted on Friday granted emergency authorization.

"Nearly three million doses of the shot have reportedly been transported across the country with a goal of vaccinating more than 100 million people by the end of March … but the expected timeline assumes zero hiccups in terms of production and manufacturing..." Stifel Economics said.

Sectors of the market set to benefit from the rollout of a vaccine that could speed up the reopening of the economy traded mostly in the red, led by energy.

Energy fell more than 2% as oil prices turned negative amid fresh concerns about weakening crude demand.

The Organization of the Petroleum Exporting Countries on Monday cut its forecast for 2021 growth in oil demand to 5.9 million barrels a day, down 350,000 barrels a day from a prior forecast.

In industrials, Boeing (NYSE:BA) also eased from session highs on reports the aircraft maker has expanded inspections of newly produced 787 Dreamliner jets after finding more defects, the Wall Street Journal reported.

Tech and consumer discretionary stocks, both up about 1%, kept losses in the broader market in check, with the latter underpinned by a climb in shares of Amazon.com (NASDAQ:AMZN) as the crucial holiday season is underway.

Facebook (NASDAQ:FB) and Microsoft (NASDAQ:MSFT) were higher while Alphabet (NASDAQ:GOOGL), and Apple (NASDAQ:AAPL) were lower.

In other news,  Airbnb (NASDAQ:ABNB) fell over 7% after Gordon Haskett downgraded the stock underperform from buy, citing concerns over a lofty valuation. The company's shares remain well above its IPO price of $68.

Dow Eases From Record on Fears of Further Virus Restrictions
 

Related Articles

Apple looks to boost production outside China- WSJ
Apple looks to boost production outside China- WSJ By Reuters - May 21, 2022

(Reuters) - Apple Inc (NASDAQ:AAPL) has told some of its contract manufacturers that it wants to increase production outside China, the Wall Street Journal reported, citing people...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (15)
Kelly Mayer
Kelly Mayer Dec 15, 2020 5:30AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Report vaccination numbers! Report upcoming Moderna FDA approval on Thursday. Report c19study.com. stop the CCP takeover. NOW!
Thom Miller
Thom Miller Dec 14, 2020 9:34PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Trump’s vaccine is fake news....and so is Kelly Girl!
Kelly Mayer
Kelly Mayer Dec 14, 2020 9:34PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Go back to your cave Thom. Say hi to your CCP bretheren while in there
Kelly Mayer
Kelly Mayer Dec 14, 2020 9:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
As the vaccine comes out, a new strain of covid is found in the UK, spreading increadibly faster than the original, though nothing is point it being more deadly. Interesting. They would find someway to render vaccines ineffective. On the good news, dominion forensic audit revealed the machines are built to commit fraud. Barr resigned. Epstein indictements coming up. 2018 exec order about to pop. Game over for left radicals.
Damian Ciceri
Damian Ciceri Dec 14, 2020 4:07PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
tomorrow's headline: vaccines landed safely at airport, the Dow surges 500 points.
Kelly Mayer
Kelly Mayer Dec 14, 2020 4:07PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
They are already being administered, way past the landing phase in many cases. This is not pbeing reported on purpose.
Harry Wilson
Harry Wilson Dec 14, 2020 3:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Trump must not allow this total Lockdowns for 200 people in hospital
Kelly Mayer
Kelly Mayer Dec 14, 2020 3:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Vaccines are out. Lockdowns persist. There you have it. You are all living under blatant communism.
Jack AAA
Jack_A Dec 14, 2020 3:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
communism has controlled virus well
Stephen Corsaro
Stephen Corsaro Dec 14, 2020 3:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
lol you have no idea what communism is.
beez waxxxxx
beez waxxxxx Dec 14, 2020 2:38PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
fake news
cran Vivid
cran Vivid Dec 14, 2020 2:17PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ahhh... we are running out of steam... we need another pendamic in a row to bust thru and make new all time highs...
Matt Kay
Matt Kay Dec 14, 2020 2:16PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Buy triple leveraged ETFs and futures. Stonks only go up. Can't go down when govt prints trillions of dollars to prop up the market.
Zack Harding
Zack Harding Dec 14, 2020 2:14PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Hinter’s unreported illegsl income on Fox News...this site wont alliw sharing of reslity.
Even Mentality
Even Mentality Dec 14, 2020 2:14PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Russian
Kelly Mayer
Kelly Mayer Dec 14, 2020 2:14PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Even Mentality  the DOJ and FBI are not run by Russia.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email