Stocks declined again today, with the DOW giving up a more than 400-point gain earlier this morning. In economic news, U.S. new home sales surged to a 12 and half year high in January.
Here’s a look at how the major indices finished the day:
Dow Jones -124 at 26,958
S&P 500 -12 at 3,116
NASDAQ +15 at 8,981
The 10 Year Treasury closed down 2 basis points yielding 1.31%
Oil prices closed down $1.16 ending at $48.74 a barrel
Gold prices closed down $9 ending at $1,642 an ounce
In the days’ stock news:
- Disney shares dropped 4% after its long time CEO Bob Iger, who has been at the helm for 15 years and helped grow Disney into the media giant it is today, announced his retirement.
- Beyond Meat shares moved over 2% higher after the company announced one of their sandwiches will be added to the menu at Starbucks locations in Canada in the beginning of March.
- M. Smucker’s stock rose over 1% after beating earnings estimates for its latest quarter. Revenue was helped by improved volume in the coffee and peanut butter segments, as well as growth for its Uncrustables brand.
- Virgin Galactic shares declined 16% after posting a $73 million loss in its first results as a public company. This included various one-time costs.