US stock end mixed as vaccine hopes pull travel, tech in opposite directions

US stock end mixed as vaccine hopes pull travel, tech in opposite directions

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4:05 pm: US equities end mixed US stocks closed mixed as investors rotated out of names that did well during the pandemic. In addition, news of Democrat Joe Biden securing the presidential election helped the Dow Jones Industrial Average build on Monday’s sharp gains.    On the day, the Dow increased 264 points, or 0.90%, to 29,420. The S&P 500 fell 0.14% to 3,545 and the tech-heavy Nasdaq dropped 1.37% to 11,553. 12:15 pm: Vaccine optimism has traders imagining a post-COVID world The Dow was up 217 points, 0.7%, to 29,375.1 ,but the Nasdaq slumped 78 points, 0.7%, to 11,638. The S&P met them in the middle, losing less than a single point to 3,549.9. The reason for the mixed signals may lie in the news that a coronavirus vaccine candidate developed by Pfizer and BioNTech was successful in preventing more than 90% of people from getting the disease in a preliminary test. "The major indices are a mixed bag in the US as the Dow Jones and the Russel 2000 are in positive territory on the back of vaccines hopes, while the NASDAQ 100 is down over 2%, because of vaccine hopes," CMC Markets UK analyst David Madden wrote Tuesday morning. "Traditional companies, like banks, retailers, and commodity groups are being lifted by the drug story. Conversely, some tech stocks could lose their edge should the pandemic be put to bed, for example, Amazon is down 3%. The declines in tech stocks has pulled the S&P 500 into the red." The Boeing Company (NYSE:BA) for one, soared 7.1% higher to $191.88.  10:30 am: Proactive North America headlines: Vox Royalty Corp (CVE:VOX) poised to boost its royalty portfolio with eight more precious and base metal assets NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) inks first Asia-Pacific partnership with South Korea convention center to develop hybrid events Goldseek Resources Inc (CSE:GSK) (CNSX:GSK) bolsters portfolio as it stakes Val D'Or North property O3 Mining Inc (CVE:OIII) (OTCMKTS:OQMGF) increases drill rigs to six for its Alpha and Malartic properties in Val D'Or, Quebec Medallion Resources Ltd (CVE:MDL) (OTCQB:MLLOF) (FRA:MRDN) starts technical assessment of its proprietary rare earths extraction process First Cobalt Corp  (CVE:FCC) (OTCQX:FTSSF) says timelines for pilot plant completion and submission of permit amendments for its cobalt refinery remain on track Vuzix Corp (NASDAQ:VUZI) (FRA:V7XN) sees 3Q revenue jump by 140%, driven by higher sales of smart glasses Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) (FRA:1XMA) laying railway track at Kenville project; closes C$408,000 placing Nomad Royalty Company Ltd (TSE:NSR) (FRA:IRLB) underlines portfolio strength as it posts increased income and revenue in third quarter PreveCeutical Medical Inc (CSE:PREV) (OTCQB:PRVCF) (FRA:18H) advancing its coronavirus (COVID-19) Cannabinoid Sol-Gel Program 9:40 am: Wall Street mixed at open As expected, the main Wall Street made an uneven start to Tuesday’s session, with the Nasdaq and the S&P 500 falling behind in early trading. Shortly after the opening bell, the Dow Jones Industrial Average rose 0.53% to 29,313, while the S&P 500 was down 0.06% at 3,548 and the Nasdaq fell 0.48% to 11,657. US equities seem to be a little cautious following Monday’s blockbuster rally after labor data from several European countries showed the pandemic’s effects on the world’s economies are continuing to drag on growth and are likely to continue after a vaccine allows life to return to some semblance of normalcy. Political concerns may also be giving some traders pause for thought after Trump’s attorney general William Barr told federal prosecutors to begin investigating “substantial allegations” of voter fraud in last week’s election despite a lack of evidence of any fraud being committed. Such an unconventional move has raised fears that the post-election legal dispute could drag on into the new year with Trump refusing to concede defeat on November 3. 7:52 am: Wall Street poised for mixed open  For once, the NASDAQ looks like being the runt of the litter when trading starts in the US later today. The Dow Jones Industrial Average is expected to open 172 points firmer at 29,330 while the NASDAQ Composite is seen opening 67 points softer at 11,647. The S&P 500 is also expected to open lower, at 3,543 – down 8 points. Earlier today. the NFIB index of small business activity and sentiment was unchanged at 104.0 in October, a smidgen below the consensus forecast of 104.1. “Downward pressure from the key labor market numbers - hiring intentions fell five points, reversing the August and September gains - and a five-point drop in economic expectations offset gains elsewhere,” said Ian Shepherdson, the chief economist at Pantheon Macroeconomics. “Earnings expectations jumped for the third straight month, up nine points, and sales expectations and inventories rose modestly too. Capex plans dipped a point, but are still close to the pre-Covid trend. Next month, though, we expect to see a sharp deterioration in the survey,” Shepherdson said. Later on today, traders will be focusing on the Job Openings and Labor Turnover Survey – commonly known as JOLTS. Five things to watch for on Tuesday: Share price reaction from e-commerce giant Amazon Inc (NASDAQ:AMZN) will be in focus following news the company has been hit with new antitrust charges by the European Union over merchant data Meanwhile, fast food giant McDonald’s Corp (NYSE:MCD) may also receive a boost after it announced it will be bringing out a range of vegan products next year. On the flipside, vegan meat maker Beyond Meat Inc (NASDAQ:BYND) may be bracing for more losses after the company fell well short of forecasts in its third quarter results Macro data will provide some interest with the JOLTs Job Openings figures for September. The figure is predicted to fall to 6.2mln from 6.49mln in August There are few big names on the results front, however, some investors may be interested in fourth quarter earnings from industrial automation and IT group Rockwell Automation (NYSE:ROK)

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