Data: FactSet; Chart: Axios Visuals

Silver prices jumped to the highest in almost seven years and gold moved closer to a record high on Tuesday as silver rose by nearly 6%.

Between the lines: The two precious metals are running just behind the Nasdaq in terms of performance over the past year and year to date.

  • Nasdaq's climb since March 23 has made it one of the best performing assets in the world this year, according to FactSet data curated by the Wall Street Journal.
  • The Nasdaq 100, which tracks the 100 largest companies on the tech-heavy index, now trails only orange juice for 2020 performance among major, highly followed assets.

What to watch: Bloomberg noted that holdings of gold and silver exchange-traded funds (ETFs) are at an all-time high.

Go deeper

S&P 500 closes at record high for first time since pandemic began

Source: FactSet; Chart: Axios Visuals

The S&P 500 closed at a new high on Tuesday for the first time since February, before the coronavirus pandemic was declared.

Why it matters: It’s among the fastest-ever recoveries on record and comes as millions of Americans remain out of work during one of the worst economic downturns in U.S. history.

Dion Rabouin, author of Markets
33 mins ago - Politics & Policy

Wall Street fears stimulus is doomed

Illustration: Sarah Grillo/Axios

The fight over a new Supreme Court justice will take Washington's partisan bickering to a new level and undermine any chance for needed coronavirus relief measures before November's election, Wall Street analysts say.

What we're hearing: "With the passing of Justice Ginsburg, the level of rhetorical heat has increased, if that seemed even possible," Greg Staples, head of fixed income for the Americas at DWS Group, tells Axios in an email.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 31,346,086 — Total deaths: 965,294— Total recoveries: 21,518,790Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 6,858,130 — Total deaths: 199,890 — Total recoveries: 2,615,949 — Total tests: 95,841,281Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: U.K. upgrades COVID alert level as Europe sees worrying rise in infections — "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

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