It was a banner day on Wall Street as traders got some positive news on the coronavirus vaccine front.
 | TUE, NOV 10, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 115.97 | -0.35 | -0.30% | | BA | 188.69 | +9.33 | +5.20% | | MSFT | 211.01 | -7.38 | -3.38% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 8.98 | +0.26 | +2.98% | | AAPL | 115.97 | -0.35 | -0.30% | | AAL | 12.38 | -0.82 | -6.21% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 115.97 | -0.35 | -0.30% | | AAL | 12.38 | -0.82 | -6.21% | | AMD | 77.99 | -5.13 | -6.17% | |
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For a second straight day, the key word on Wall Street was "rotation." The Dow Jones Industrial Average rose 262.95 points on Tuesday, adding to its 834-point surge from Monday. The S&P 500 and Nasdaq Composite struggled, however. The broader-market index slid 0.1%, and the tech-heavy Nasdaq pulled back by 1.4%. The divergence between the Dow and the other major stock benchmarks came as traders rotated out of high-flying stay-at-home names and increased exposure to companies that would benefit from an economic recovery.  Shares of Zoom Video fell 9% after dropping 17% in the previous session. Amazon slid 3.5%, and Microsoft closed 3.4% lower. Boeing, meanwhile, popped 5.2%, and Chevron advanced 4.6%. "This is a market in which a rotation is likely to continue into the end of the year," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "Technology, consumer discretionary and communication services remain our favorite sectors for the long term ... but I think near term, with signs of economic improvement on the horizon, we're going to see cyclical companies outperform." This rotation started on Monday, with Pfizer and BioNTech announcing their coronavirus vaccine was more than 90% effective in preventing Covid-19. Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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