August 5, 2021

August 5, 2021

Stocks moved higher today, with every major index up finishing up about 1%. In economic news, there were 385,000 jobless claims last week, which was expected.

 

Dow Jones +272 at 35,064

S&P 500 +26 at 4,429

NASDAQ +115 at 14,895

 

The 10 Year Treasury closed up 3 basis points yielding 1.22%

Oil prices closed up $0.97 ending at $69.12 a barrel

Gold prices closed down $7 ending at $1,804 an ounce

 

Corporate news:

 

  • Shares of Cigna dropped 11% despite reporting better-than-expected earnings and revenue for its latest quarter. This drop is due to Cigna saying it saw a negative impact of higher medical costs.

 

  • Penn National Gaming is buying digital media and sports betting company, Score Media, for $2 billion in cash and stock. Score Media shares increased 80%, while Penn shares increased 9%.

 

  • Roku shares declined 4% after the company reported weaker-than-expected user growth. Roku did, however, report better-than-expected earnings and revenue for its latest quarter.

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