Jan. 10, 2020

Stocks decreased today, with every major index finishing in negative territory. However, earlier in the day the DOW did hit 29,000 for the first time ever. In economic news, there were 145,000 jobs added in December, lower than the 160,000 expected.

 

Here’s a look at how the major indices finished the day:

Dow Jones -133 at 28,814

S&P 500 -9 at 3,265

NASDAQ -25 at 9,179

 

The 10 Year Treasury closed down 3 basis points yielding 1.83%

Oil prices closed down $0.44 ending at $59.12 a barrel

Gold prices closed up $7 ending at $1,561 an ounce

 

In the days’ stock news:

  • Boeing was in the news again after the company released internal messages that showed harsh criticism from workers about the development of the 737 MAX jet. Boeing shares dropped 2% today.
  • Citi added Nvidia to its catalyst watch list. Citi expects Nvidia to outperform its competitors with help from improving data center demand as well as its acquisition of the networking products maker Mellanox Technologies.
  • KB Home beat earnings estimates last quarter. However, the stock dropped today it missed revenue expectations. Orders came in above forecasts, but the average sale price was slightly lower.
  • Urban Outfitters reported a holiday sales increase of 3% but said sales fell at its flagship stores. The company said profit margins were weaker for some of its brands due to increased promotional activity.