Stocks finished the day higher, with the DOW hitting record highs after finishing above 29,000 for the first time ever. In economic news, U.S. producer prices increased slightly in December.
Here’s a look at how the major indices finished the day:
Dow Jones +91 at 29,030
S&P 500 +6 at 3,289
NASDAQ +7 at 9,259
The 10 Year Treasury closed down 3 basis points yielding 1.79%
Oil prices closed down $0.28 ending at $57.98 a barrel
Gold prices closed up $12 ending at $1,557 an ounce
In the days’ stock news:
- Target said its 1.4% increase in holiday sales this year was disappointing, and its stock, which dropped over 6%, reflected that disappointing report.
- Microsoft shares moved higher after it released a patch for a Windows 10 security flaw discovered by the National Security Agency.
- PG&E is nearing a deal with investment firm Pimco and Elliot on a restructuring plan. This agreement will give creditors of the utility mix of equity and new debt if they abandon their rival restructuring plan.
- United Health shares increased about 3% after beating earnings estimates. Revenues, however, fell below forecasts. The company got a boost from higher revenue at its Optum pharmacy benefits management unit.