January 22, 2021

January 22, 2021

Stocks traded lower today, pulling back from record highs as COVID-19 concerns resurged and questions over whether more substantial stimulus would be passed in the near-term arose.

 

Dow Jones finished -179 at 30,996

S&P 500 finished -12 at 3,841

NASDAQ finished +12 at 13,543

 

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

Oil prices closed down $0.99 ending at $52.14 a barrel.

Gold prices closed down $11.90 ending at $1,854 an ounce.

 

In the days’ stock news:

 

  • IBM fell more than 9% following its earnings report that showed a decline in revenue larger than analysts expected. IBM made $20.37 billion in revenue in the fourth quarter, missing estimates of $20.67 billion,
  • Ford is recalling 3 million vehicles for an airbag-related issue, including 2.7 million in the United States. The recall involves airbag inflators that could potentially rupture. The recall will cost Ford $610 million.

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