August 23, 2021

August 23, 2021

Stocks closed higher today following a choppy week on Wall Street, led by reopening stocks as the Food and Drug Administration approved its first Covid-19 vaccine.

 

Dow Jones finished +216 at 35,335

S&P 500 finished +38 at 4,479

NASDAQ finished +228 at 14,942

 

The 10 Year Treasury closed down 1 basis point yielding 1.25%

Oil prices closed up $3.32 ending at $65.47 a barrel.

Gold prices closed up $22.00 ending at $1,806 an ounce.

 

In the days’ stock news:

 

  • General Motors closed down 1.3% after they expanded the recall of its Chevy Bolt electric car on Friday. It will include newer models, a move which will cost the automaker an additional $1 billion. The recall will address an issue that can increase the risk of battery fires.
  • Abercrombie & Fitch closed up 2% after Tesley reiterated its outperform rating on Abercrombie & Fitch, seeing “margin expansion” ahead. The company is set to report earnings later this week.

 

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