August 11, 2020

August 11, 2020

Both the S&P 500 and Dow traded higher earlier in the day after local news agencies reported that Russia had given regulatory approval for the world’s first Covid-19 vaccine. But stocks gave up the gains within the last hour in the session with Apple and tech stocks falling.

Dow Jones finished -104 at 27,686

S&P 500 finished -27 at 3,333

NASDAQ finished -186 at 10,782

The 10 Year Treasury closed up 5 basis points yielding 0.63%

Oil prices closed down $0.42 ending at $41.52 a barrel

Gold prices closed down $109.90 ending at $1,929 an ounce

 

In the days’ stock news:

Shares of Novavax plunged more than 16% despite its better-than-expected quarterly results. The biotech firm posted a quarterly loss of 30 cents per share, smaller than the 52 cents loss analysts were expected.

Royal Caribbean and other cruise stocks rose today as investors shifted toward reopening plays.

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