August 21, 2020

August 21, 2020

Stocks moved higher today, with every major index finishing up about a half of percent. In economic news, existing home sales rose a record 24.7% in July as prices set new highs.

 

Dow Jones +191 at 27,930

S&P 500 +12 at 3,397

NASDAQ +47 at 11,312

 

The 10 Year Treasury closed flat yielding 0.64%

Oil prices closed down $0.54 ending at $42.28 a barrel

Gold prices closed up $1 ending at $1,934 an ounce

 

The days’ stock news:

  • Shares of Tesla, which are up 40% in August, increased another 2% as the company’s stock continues to rise after it announced a 5-for-1 stock split at the end of August.
  • Pfizer and BioNTech said regulatory review for their Covid-19 vaccine candidate could come as early as October. The drug makers say their ongoing studies are showing promising safety and immune response data.
  • TD Bank was fined $122 million for its overdraft enrollment practices. The Consumer Financial Protection Bureau said the bank charged consumers overdraft fees for ATM and debit card transactions without their consent.

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