Dollar Fell 6.7% In The Last Year, Wall Street Succeeded To Add For Internet, Health Stocks

On Thursday, the dollar index rebounded on the currency markets, rising 0.3 percent to 89.94 points, but sank 6.7 percent year-on-year, and finished 2020 versus a basket of six benchmark currencies near its lowest level since March 2018. On Thursday, the euro fell 0.6 percent to $1.2221, not far from a two-and-a-half-year high versus the greenback.

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On the Wall Street, Dow Jones reported a rise of 7.3 percent over the entire of 2020, the S&P 500 a 16.3 percent increase and the Nasdaq a 43.6 percent leap, galvanized by internet and health stocks, which gained from the coronavirus pandemic. This is the best year for the Nasdaq in 11 years since 2009, which followed a ‘subprime’ financial crisis of 2008.

GAFA, the Internet giants, endorsed the ranking when whole economies sunk globally, especially hurting transportation, tourism and energy sectors to become largest victims of the health crisis. Alphabet Inc. (GOOGL) rose up 30.85 percent year-on-year; Apple Inc (AAPL) added 80.75 percent; Facebook Inc (FB) took a jump of 33.09 percent;, Inc. (AMZN) shares remained up 76.26 percent while and Microsoft Corporation (MSFT) increased by 41.04 percent in 2020.

All these stocks were nearly stable under 1% on Thursday as Amazon dropped -0.88% to $3256.93, Apple  fell by -0.77% to $132.69, Facebook rose +0.47% to $273.16, Google parent Alphabet  leapt +0.94% to $1752.64 while Microsoft showed a bit upside traction of +0.33% to end the year at $222.42.

The share price of Tesla Inc (TSLA), which entered the market in December, rose 743.44%. The stock reported one of the highest gains in the Nasdaq and S&P 500, while biotech Novavax, which is planning an anti-Covid vaccine, expanded 2,701.76% in 2020. Last year, Moderna, whose anti-Covid vaccine was approved in the United States, has risen 434.10% on the stock exchange. BioNtech has also risen 140.61% for its Covid vaccine, but its ally Pfizer was less sought for at -0.86%, despite a 27 percent rebound since its March lows.