February 1, 2021

February 1, 2021

Stocks began the week with every major index moving at least 1% higher. In economic news, the consumer confidence index increased 2 points in January, coming in at 89.3.

 

Dow Jones +229 at 30,212

S&P 500 +60 at 3,774

NASDAQ +333 at 13,403

 

The 10 Year Treasury closed down 2 basis points yielding 1.08%

Oil prices closed up $1.44 ending at $53.64 a barrel

Gold prices closed up $13 ending at $1,861 an ounce

 

Corporate news:

  • Shares of Tesla increased 6% after Piper Sandler raised its price target to $1,200 per share from $515, saying Tesla could have new opportunities to pursue for decades due to its target industries currently embracing outdated models.
  • Moderna is seeking FDA permission to increase the number of COVID-19 vaccine doses in a vial to 15 from 10. This move would help ease a manufacturing crunch for the drug maker.
  • Nio reported 7,225 vehicle deliveries in January, an increase of 352% from this time last year. Shares of Nio finished the day flat.

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