The US stocks finished mostly higher on Wednesday, 02 December 2020, with the Dow and the S&P 500 sets at record closing highs, thanks to upbeat vaccine developments and a potential coronavirus fiscal package. However, market gains capped as some traders looked to cash in on yesterday's gains amid bleak private jobs report.
At the close of trade, the Dow Jones Industrial Average index advanced 59.87 points, or 0.2%, to 29,883.79. The S&P 500 index added 6.56 points, or 0.18%, to 3,669.01. The tech-heavy Nasdaq Composite Index fell 5.74 points, or 0.05%, to 12,349.37.
The UK became the first country to grant emergency use authorization for Pfizer and BioNTech's COVID-19 vaccine.
The US Food and Drug Administration is expected to grant emergency authorization for Pfizer's COVID-19 vaccine next week.
ECONOMIC NEWS: US ADP Private Sector Job Growth Slows In November- US private sector employment rose by 307,000 jobs in November after climbing by an upwardly revised 404,000 jobs in October, payroll processor ADP reported on Wednesday. The report said employment in the service-providing sector climbed by 276,000 jobs, reflecting notable job growth in the leisure/hospitality and education/health service industries. Employment in the goods-producing sector also edged up by 31,000 jobs amid modest increases in construction and manufacturing jobs. ADP also revealed employment at mid-sized businesses increased by 139,000 jobs, while small businesses at 110,000 jobs and employment at large businesses rose by 58,000 jobs.
Among Indian ADR, Dr Reddys Labs fell 0.53% to $65.49, HDFC Bank declined 0.71% to $69.73, WNS Holdings shed 1.32% to $69.71, ICICI Bank declined 0.9% to $13.27, and Azure Power Global fell 3.11% to $35.49. Wipro added 2.68% to $5.37, INFOSYS added 0.2% to $15.41, Tata Motors added 0.56% to $12.64, and Vedanta rose 1.04% to $6.82.
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