U.S. Indices Took A Break, Marginally Dropped After Records High A Day Earlier

On Tuesday, a day after record highs for its main indices, the New York Stock Exchange ended marginally lower in an already thin trading volume, with two days to go before the end of the 2020 stock market year. Markets, amid an active vaccine program across the country, remain torn between positive news, including the recent $900 billion stimulus plan in the United States, and the declining health situation. After news that activist investor Daniel Loeb has joined the capital and is calling for a strategic move by the microprocessor manufacturer, Intel shares jumped 4.9 percent.

At the close, the Dow Jones index fell 0.22 percent to 30,335 points, while the large S&P 500 index fell 0.22 percent to 3,727 points, and the technology-rich and biotech-rich Nasdaq Composite index dropped 0.38 percent to 12,850 points.

The EuroStoxx 50 added 0.17 percent earlier in the day, while the CAC 40 improved 0.42 percent, while the Nikkei soared 2.6 percent in Asia and the Shanghai Composite dropped 0.4 percent. The Footsie 100 jumped 1.55% in London, hailing the London-European Union Brexit agreement, whilst the pound added another 0.4% to $1.3505, near to its highest rate since spring 2018.

The House of Representatives on Monday approved the stimulus bill of issuing checks of $2,000 to U.S. households instead of $600, but that was held on Tuesday by the Senate to be voted on.

Some investors attributed Tuesday’s fall in the stock market to a disappointment over the failure to raise direct assistance to Americans, which would fuel growth further.

In the United States, investment bank Goldman Sachs boosted its 2021 growth expectations on Monday, also under the new $892 billion program. GS now expects GDP to rise in the first quarter at an annual rate of 5 percent, up from 3 percent earlier. The U.S. bank expects GDP to grow by 5.8 percent from 5.3 percent earlier for all of 2021.

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