April 20, 2021

April 20, 2021

U.S. stocks fell for a second day today as strong corporate earnings failed to boost a market already near record highs, while an alarming rise in global Covid cases raised concerns about the recovery.

 

Dow Jones finished -256 at 33,821

S&P 500 finished -28 at 4,134

NASDAQ finished -128 at 13,786

 

The 10 Year Treasury closed down 3 basis points yielding 1.56%

Oil prices closed down $0.77 ending at $62.61 a barrel.

Gold prices closed up $8.00 ending at $1,778 an ounce.

 

In the days’ stock news:

 

  • IBM closed up more than 3% after the company beat top and bottom line estimates during the first quarter. IBM earned $1.77 per share excluding items on $17.73 billion in revenue.
  • Johnson & Johnson closed up 2.3% after the company reported earnings and revenue that beat Wall Street’s expectations. The company posted an adjusted EPS of $2.59, versus $2.34 expected, according to Refinitiv. JNJ also reported $100 million in first-quarter sales of its Covid-19 vaccine that’s on hold in the U.S. while federal health regulators investigate a rare blood-clotting issue.

 

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