August 4, 2020

August 4, 2020

Stocks opened flat to begin the day, but managed to gain momentum throughout the day, with every major index finishing in positive territory. In economic news, construction spending unexpectedly dropped about a half of percent in July.

 

Dow Jones +165 at 26,828

S&P 500 +12 at 3,307

NASDAQ +38 at 10,941

 

The 10 Year Treasury closed down 5 basis points yielding 0.52%

Oil prices closed up $0.51 ending at $41.52 a barrel

Gold prices closed up $44 ending at $2,030 an ounce

 

The days’ stock news:

  • Shares of AMC Network moved 2% higher after almost doubling earnings estimates and beating revenue estimates. the network also said it is in solid financial position and is making significant progress with its new digital initiatives.
  • Take-Two Interactive saw profit nearly double and sales more than double in its latest quarter. This was due to its videogame business getting a boost from more people staying at home. Take-Two shares increased 6%.
  • The FDA released its guidelines for a return to service for Boeing’s grounded 737 Max jet, including four key design and operating changes. These proposals match what had been expected by Boeing and industry analysts. Boeing shares increased 2% today.

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