December 7, 2020

December 7, 2020

The S&P 500 and Dow pulled back from record highs today as traders took a pause from an end-of-year rally.

 

Dow Jones finished -149 at 30,069

S&P 500 finished -7 at 3,691

NASDAQ finished +56 at 12,519

 

The 10 Year Treasury closed down 4 basis points yielding 0.93%

Oil prices closed down $0.56 ending at $45.70 a barrel

Gold prices closed up $26.80 ending at $1,866 an ounce

 

In the days’ stock news:

 

  • Teladoc closed down over 3% following a downgrade to  equal weight from overweight at Stephens. The Wall Street firm said increased competition could be an overhang for the “stay-at-home” stock.
  • Eastman Kodak jumped almost 60% after The Wall Street Journal reported that a government watchdog found no wrongdoing in Kodak getting a government loan to produce pharmaceutical ingredients. The loan, worth more than $700 million, sent shares soaring when it was first announced in July, but Kodak’s stock deflated when a government agency put the deal on hold.

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