August 10, 2020

August 10, 2020

Stocks opened higher to begin the week, with the DOW and S&P both finishing in positive territory. In economic news, the consumer sentiment index came in at 71.9 for August, lower than the expected 72.5.

Dow Jones +358 at 27,791

S&P 500 +9 at 3,360

NASDAQ -43 at 10,968

The 10 Year Treasury closed up 1 basis point yielding 0.57%

Oil prices closed up $0.79 ending at $42.01 a barrel

Gold prices closed up $6 ending at $2,035 an ounce

The days’ stock news:

• Shares of Marriott rose 4% despite losing more than expected during the 2^nd This was the company’s first quarterly loss in nearly 9 years. Marriott, along with other hotel chains, continue to be impacted by the Covid-19 pandemic.
• Canopy Growth shares increased 8% after reporting better-than-expected revenue. This was helped by a restructuring plan that reined in expenses, with the pandemic also boosting a demand for its products.
• Twitter is said to be interested in the U.S. operations for TikTok. Twitter would be competing with Microsoft, which is already in talks with TikTok’s parent company, ByteDance.