October 6, 2021

October 6, 2021

Stocks closed up today following a report that Congress might reach a short-term agreement to raise the government borrowing limit and prevent a default.

 

Dow Jones finished +102 at 34,416

S&P 500 finished +18 at 4,363

NASDAQ finished +68 at 14,501

 

The 10 Year Treasury closed down 1 basis point yielding 1.52%

Oil prices closed down $1.83 ending at $77.10  v a barrel.

Gold prices closed up $4.00 ending at $1,765 an ounce.

 

In the days’ stock news:

 

  • General Motors closed down 1% after the automaker said it plans to double its annual sales to $280 billion by 2030 as it transitions to all-electric vehicles and grows its new software- and data-focused operations. The announcement came ahead of the company’s investor presentation.
  • Manchester United shares closed down 13.7% after the Glazer family, which controls the soccer club, announced a 9.5 million share offering. Manchester United will not receive any proceeds from the sale.

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