December 10, 2020

December 10, 2020

Stocks opened lower this morning but spent the day volatile, with the NASDAQ being the only major index ending positive. In economic news, there were 853,000 weekly jobless claims, higher than the expected 720,000.

 

Dow Jones -70 at 29,999

S&P 500 -5 at 3,668

NASDAQ +67 at 12,406

 

The 10 Year Treasury closed down 3 basis points yielding 0.91%

Oil prices closed up $1.37 ending at $46.89 a barrel

Gold prices closed up $2 ending at $1,836 an ounce

 

Corporate news:

  • Shares of General Electric dropped about 1% after the company had to pay a $200 million fine to the SEC, settling claims that it misled investors about problems in its insurance power units. GE did not admit or deny any wrongdoing in agreeing to the settlement.
  • Sony is buying AT&T’s animation business Crunchyroll for just over $1 billion. Sony will combine Crunchyroll with its other animation group, Funimation, totaling 4 million subscribers.
  • Disney will unveil a significant amount of planned movie content today, as well as whether each movie will have exclusive theater runs or go directly to Disney+. Disney shares are currently down about a half of percent.

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