October 22, 2020

October 22, 2020

Stocks closed higher today after traders continued to fixate on dimming prospects of more stimulus before the election. Third-quarter corporate earnings results rolled in mixed, and a new report weekly jobless claims came in better-than-feared.

 

Dow Jones finished +153 at 28,363

S&P 500 finished +18 at 3,453

NASDAQ finished +21 at 11,506

 

The 10 Year Treasury closed up 4 basis points yielding 0.86%

Oil prices closed up $0.63 ending at $40.66 a barrel

Gold prices closed down $22.20 ending at $1,907 an ounce

 

In the days’ stock news:

 

• Shares of Southwest Airlines closed up over 5% after the company reported a smaller-than-expected quarterly loss and beat revenue estimates. the airline also said it would burn less cash over the next few months as booking recover.
• Tesla shares closed up almost 1% after the auto company posted its fifth straight quarterly profit, and said it is still on track to deliver 500,000 vehicles for 2020.