Stocks declined again today, with every major index down about 6% for the week. In economic news, U.S. home-price gains accelerated in December.
Here’s a look at how the major indices finished the day:
Dow Jones -879 at 27,081
S&P 500 -97 at 3,128
NASDAQ -256 at 8,966
The 10 Year Treasury closed down 5 basis points yielding 1.33%
Oil prices closed down $1.62 ending at $49.81 a barrel
Gold prices closed down $35 ending at $1,642 an ounce
In the days’ stock news:
- Home Depot reported better-than-expected earnings and revenue for its latest quarter. The company also announced it will increase its dividend by 10%.
- United Airlines dropped 6.50% after withdrawing its full-year 2020 forecast, pointing to the ongoing impact of the Coronavirus on travel. The airline also said the near-term demand for travel to China amid the outbreak has virtually disappeared.
- Moderna shares increased 28% after the company announced it had shipped a Coronavirus vaccine to U.S. government researchers for study, with the first clinical trial expected by the end of April.
- Macy’s shares dropped over 5% despite beating earnings and revenue estimates. The decline could be due to same-store sales falling by 0.5%.