Stock Market Today: Stocks Step Back as COVID Battle Escalates
Energy from the first COVID-vaccine approval in the U.S. quickly died out Monday as growing closure threats mounted.


Monday delivered a psych-out to investors, as a booming open for the major indices faded into a whimper.
The stage was at least set for another "Medical Monday": The FDA late Friday granted its Emergency Use Authorization to the COVID-19 vaccine created by Pfizer (PFE, -4.6%) and BioNTech (BNTX, -15.0%), which immediately shipped millions of doses across the country.
On top of that, there was some large-scale M&A, which typically helps investor sentiment. Big Pharma firm AstraZeneca (AZN, -7.8%) bought out Alexion Pharmaceuticals (ALXN, +29.2%) – which we named one of our top healthcare stock picks for 2021 in late November based in part on the potential for a buyout, so hopefully you bought in early.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
However, investors were rattled by New York City Mayor Bill de Blasio's warning that the city might be forced into another "full lockdown" amid escalating COVID cases, following strict lockdowns in California and in several European countries.
The Dow Jones Industrial Average, which jumped by 279 points (+0.9%) early Monday, finished 184 points (-0.6%) lower to 29,861. The Nasdaq Composite finished with a little more muscle, gaining 0.5% to 12,440, but that was still well off its intraday highs.
Other action in the stock market today:
- The S&P 500 declined 0.4% to 3,647.
- The Russell 2000 managed a 0.1% improvement to 1,913.
- U.S. crude oil futures finished 0.9% higher at $46.99 per barrel.
- Gold futures declined 0.6% to settle at $1,832.10 per ounce.
The stock market is still behaving in an encouraging way, driving continued bullishness heading into 2021.
"The market's sector rotation out of secular, mega-cap growth stocks into cyclicals, which continued last week, is a vote of confidence for a continuation of the V-shaped recovery which has persisted even in the face of new COVID-related restrictions," says Marc Chaikin, founder of quantitative investment research firm Chaikin Analytics. "This broadening out of market breadth encourages us to be bullish on both large- and small-cap stocks going forward."
That's good news for a wide range of stocks that experts are lining up behind heading into the new year – that includes entire styles such as value stocks, old-school sectors such as energy and materials, and even emerging industries such as green-energy stocks and cannabis plays.
Of course, if you're not beholden to any particular theme, you can pick from the best ideas of Wall Street's brightest minds, including legendary investor Warren Buffett. While the Oracle of Omaha spent the first half of 2020 unloading positions left and right, more recently he's started pouncing on opportunities bred out of the bear market. Here, we look at what has caught Buffett's fancy of late … and the stocks he's been selling to raise cash.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
How to Navigate Your Medicare Advantage Plan in a Disaster
If you're a Medicare Advantage member in an area that has been impacted by a disaster, you might be worried about access to care and medicine. Here's what you need to know.
-
Older Investors: Boost Your Savings and Retire Earlier
This one measure can help older investors retire up to two years earlier and potentially double their retirement savings.
-
Wellness Stocks to Invest in Now
Breakthroughs that help us live longer, healthier lives can also create opportunities for investors.
-
If You'd Put $1,000 Into Berkshire Hathaway Stock 20 Years Ago, Here's What You'd Have Today
Berkshire Hathaway is a long-time market beater, but the easy money in BRK.B has already been made.
-
If You'd Put $1,000 Into Procter & Gamble Stock 20 Years Ago, Here's What You'd Have Today
Procter & Gamble stock is a dependable dividend grower, but a disappointing long-term holding.
-
My Three-Day Rule for Investing: And If it Applies Now
Stock Market I've seen a lot in my career. Here's what I see now in the stock market.
-
Is It Time to Invest in Europe?
Stock Market Europe is being shaken out of its lethargy, militarily and otherwise, by Donald Trump's changes in U.S. policy. Should investors start buying?
-
Why Is Warren Buffett Selling So Much Stock?
Berkshire Hathaway is dumping equities, hoarding cash and making market participants nervous.
-
If You'd Put $1,000 Into Google Stock 20 Years Ago, Here's What You'd Have Today
Google parent Alphabet has been a market-beating machine for ages.
-
Stock Market Today: Nasdaq Hits New High Ahead of Alphabet Earnings
The Google parent is one of several mega caps reporting earnings this week, with results due out after Tuesday's close.