Stocks closed higher today, with the S&P and NASDAQ finishing at record highs. In economic news, producer price index rose 0.5% in January, more than expected.
Here’s a look at how the major indices finished the day:
Dow Jones +116 at 29,348
S&P 500 +16 at 3,386
NASDAQ +84 at 9,817
The 10 Year Treasury closed up 1 basis point yielding 1.57%
Oil prices closed up $1.16 ending at $53.45 a barrel
Gold prices closed up $11 ending at $1,615 an ounce
In the days’ stock news:
- Tesla shares jumped 7% higher today after Piper Sandler increased its price target to $928 per share, saying it expects the company to achieve the same success in energy generation and storage that it has in vehicles.
- Groupon shares dropped over 40% after the daily deals’ provider announced it will stop selling merchandise by year-end due to a fiercely competitive market.
- Bed Bath & Beyond’s stock increased 7% today after the company announced they are investing $400 million to remodel stores and $600 million in debt reduction and share buybacks.
- Uber announced it will close its office in downtown Los Angeles and cut about 80 jobs.