April 28, 2021

April 28, 2021

Stocks closed down today despite The Federal Reserve saying the vaccine rollout has improved the U.S. economy, but still held interest rates at near-zero as part of its commitment to aggressive economic stimulus.

 

Dow Jones finished  -165 at 33,820

S&P 500 finished -4 at 4,183

NASDAQ finished -39 at 14,051

 

The 10 Year Treasury closed down 1 basis point yielding 1.61%

Oil prices closed up $0.84 ending at $63.78 a barrel.

Gold prices closed up $2.40 ending at $1,781 an ounce.

 

In the days’ stock news:

 

  • Spotify closed down more than 12% after the company’s monthly active users for the first quarter disappointed investors. The company did report a smaller-than-expected loss for the first three months of the year.
  • Microsoft closed down more than 2% despite reporting beating the top and bottom lines for its fiscal third quarter. Some Wall Street analysts pointed toward concerns about the growth of Azure, Microsoft’s cloud business, as a reason for the selling pressure.

 

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