December 8, 2020

December 8, 2020

Stocks opened lower this morning, but gained momentum early on, with every major index finishing in positive territory. In economic news, U.S. productivity rose 4.6% during the third quarter, lower than expected.

 

Dow Jones +104 at 30,174

S&P 500 +10 at 3,702

NASDAQ +63 at 12,583

 

The 10 Year Treasury closed down 2 basis points yielding 0.91%

Oil prices closed down $0.11 ending at $45.65 a barrel

Gold prices closed up $8 ending at $1,870 an ounce

 

In corporate news:

  • Shares of Palantir Technologies, which rose 21% yesterday, began the day up again, but ended down over 1%. This move up came after the data analytics company won a $44 million contract from the FDA.
  • Goldman Sachs signed an agreement to take full ownership of its China joint venture. This would make Goldman Sachs the first global banking firm to own 100% of its securities business in China.
  • Uber sold its self-driving auto business to Aurora Innovation, an autonomous driving startup. As part of the deal, uber will make a $400 million cash investment in Aurora and hold a 26% stake.

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