August 13, 2020

August 13, 2020

The Nasdaq gained today as tech shares renewed their run of out-performance. Investors also processed a jobless claims report that came in much better than expected, with new weekly unemployment insurance claims falling below 1 million for the first time during the pandemic period.

Dow Jones finished -80 at 27,897

S&P 500 finished -7 at 3,373

NASDAQ finished +30 at 11,042

 

The 10 Year Treasury closed up 3 basis points yielding 0.71%

Oil prices closed down $0.31 ending at $42.36 a barrel

Gold prices closed up $13.60 ending at $1,962 an ounce

 

In the days’ stock news:

 

  • Shares Apple rose 1.77% following a Bloomberg News report that the company was working on a subscription product for digital fitness. The stock has now gained more than 50% so far this year.
  • Lyft fell more than 5% after the company reported a 61% drop in revenue for its second quarter.

 

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