Feb. 19, 2020

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.