August 25, 2020

August 25, 2020

Stocks closed mixed today with the S&P 500 and Nasdaq making yet another record high and the Dow closing negative. A closely watched index tracking US consumer confidence unexpectedly weakened in August to a fresh pandemic-era low, cooling hopes for an extended rebound in consumer spending trends.

Dow Jones finished -60 at 28,248

S&P 500 finished +12 at 3,443

NASDAQ finished +87 at 11,466

 

The 10 Year Treasury closed up 4 basis points yielding 0.69%

Oil prices closed up $0.73 ending at $43.35 a barrel

Gold prices closed down $5.30 ending at $1,933 an ounce

 

In the days’ stock news:

 

  • Exxon Shares slid more than 3% after The Dow Jones said it was removing the company from the Dow Jones Industrial Average.
  • American Airlines dropped more than 2% on news the company is cutting 19,000 jobs when federal aid expires in October. American is currently prohibited from laying off workers through Sept. 30 as part of a $25 billion aid package.

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