Monday, September 21, 2020

Market roundup Sept. 9

By on September 9, 2020

SAN JUAN — The U.S. stock market was able to snap a three-day losing period that propelled the worst technology sell-off since the pandemic began in March.

The increased activity in the options market is partly to blame for a large percentage of the tech stocks’ increased volatility. After reviewing Wednesday’s U.S. Options Market Volume Summary, we note that Nasdaq options reached $13,124,253, or 34.36% of the market.

The sell-off is likely over for the time being. Should it hold, it could be construed as a reversal instead of a market correction, as some have mentioned. 

Some of the largest players were partly able to recover:

  • Tesla (TSLA) rose $32.09, or 9.72%, closing at $362.30
  • Microsoft(MSFT) rose $8.50, or 4.19%, closing at $211.16
  • Apple (AAPL) rose $4.17, or 3.71%, closing at $116.99

On to markets.

  • The Dow Jones Industrial Average closed at 27,940.47, up 439.58 points, or 1.6%.
  • The Standard & Poor’s 500 Index closed at 3,398.96, up 67.12 points, or 2.01%.
  • The NASDAQ Composite Index closed at 11,141.56, up 293.87 points, or 2.71%.
  • The Birling Capital Puerto Rico Stock Index closed at 1,554.02, down 47.75 points, or 2.98%.
  • The U.S. Treasury 10-year note closed higher, at 0.71%.
  • The U.S. Treasury 2-year note closed flat at 0.14%.