August 27, 2020

Wall Street was mixed today as investors took heart from Federal Reserve Chair Jerome Powell’s pledge to try and nudge inflation higher while maintaining accommodative monetary policy.

Dow Jones finished +160 at 28,492

S&P 500 finished +5 at 3.484

NASDAQ finished -39 at 11,625

The 10 Year Treasury closed up 5 basis points yielding 0.74%

Oil prices closed down $0.41 ending at $42.98 a barrel

Gold prices closed down $14.20 ending at $1,938 an ounce

In the days’ stock news:

Shares of Abbott Laboratories closed up more than 7% after the FDA approved its rapid Covid-19 test that can deliver results within 15 minutes. The test will sell for $5.
Shares of Walmart jumped more than 4% to its session high after the supermarket chain confirmed it’s teaming up with Microsoft in a bid for popular Chinese social media app TikTok.