August 2, 2021

August 2, 2021

Stocks finished the day mixed, with the NASDAQ in positive territory, while the DOW and S&P both dropped lower. In economic news, consumer spending rose 1% during June, more than expected.

 

Dow Jones -97 at 34,838

S&P 500 -8 at 4,387

NASDAQ +8 at 14,681

 

The 10 Year Treasury closed down 7 basis points yielding 1.17%

Oil prices closed down $2.56 ending at $71.39 a barrel

Gold prices flat ending at $1,813 an ounce

 

Corporate news:

 

  • Shares of Square increased 10% after the company announced it will buy Afterpay, for about $29 billion in stock. This represents a 30% premium for Afterpay shareholders.

 

  • Uber shares moved higher after the company was given a buy rating by Gordon Haskett Research, which called Uber a company that is continually engraining itself in the everyday lives of consumers through its services.

 

  • Zoom Video agreed to pay $85 million to settle a lawsuit accusing the company of violating the privacy rights of users. It also agreed to beef up security practices to prevent hackers disrupting Zoom meetings.

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