By Alex Eule |
Wednesday, November 11
Back to Tech. That was quick. After giving up on tech stocks for two days following
the positive Covid-19 vaccine news, tech was back in favor today. Shares of Zoom
Video Communications jumped 10%, a recognition that Covid
quarantines are unlikely to go away anytime soon, even with a vaccine on the
horizon.
In New York, Gov. Andrew
Cuomo put new Covid-19 restrictions in place, including capping
indoor gatherings at 10 people. New York's daily infection rate hit its highest
level since April. In the U.S., total daily cases hit another record of
136,000.
The virus resurgence helps explain why the market
is suddenly back to old habits.
The tech-heavy Nasdaq Composite
finished the day up 2%, while the Dow Jones Industrial Average fell
23 points, or 0.1%.
The Dow's best-performing stock was Apple,
which rose 3% as Wall Street digested the company's latest product announcements. Yesterday, Apple
announced new Macs without Intel processors. They're Apple's first Intel-free
computers in 15 years.
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