Feb. 26, 2020

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.