August 26, 2020

August 26, 2020

Stocks opened slightly higher this morning with every major index gaining momentum throughout the day. In economic news, U.S. durable goods orders more than doubled expectations, increasing 11.2% in July.

 

Dow Jones +83 at 28,332

S&P 500 +35 at 3,479

NASDAQ +199 at 11,665

 

The 10 Year Treasury closed up 1 basis point yielding 0.69%

Oil prices closed up $0.06 ending at $43.41 a barrel

Gold prices closed up $29 ending at $1,941 an ounce

 

The days’ stock news:

  • Shares of Apple, which are up 18% in August, gained another 1% today after Wedbush raised its price target for the tech giant to $600 per share from $515. This was based on expectations of an iPhone 12 super cycle.
  • Roku received a buy rating from Citi, which pointed to expectations of strong account growth as well as rising economic value per account. Roku shares increased 11%.
  • Carnival shares dropped 4% after the cruise line cancelled its Princess Cruises unit through early 2021.

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