October 19, 2020

Stocks opened higher this morning but turned negative early on as investors are still waiting on congress to make a deal for the next stimulus package. In economic news, there were 898,000 jobless claims last week, higher than expected.

Dow Jones -411 at 28,195

S&P 500 -57 at 3,427

NASDAQ -193 at 11,479

The 10 Year Treasury closed up 2 basis points yielding 0.76%

Oil prices closed down $0.26 ending at $40.62 a barrel

Gold prices closed flat ending at $1,901 an ounce

Corporate news:

Shares of AstraZeneca opened higher after a report said the company’s Covid-19 vaccine could be ready to use by the end of this year.
American Airlines is planning a December return to service for the currently grounded Boeing 737 Max jet, pending FAA recertification of the aircraft.
AMC Entertainment plans to resume operation at theaters in New York State on October 23^rd. Once these theaters open, the company will have theaters open in 4 4out of the 45 states in which it operates.