January 25, 2021

January 25, 2021

After a volatile day, stocks finished mixed, with the S&P and NASDAQ being the only major indices in positive territory. In economic news, there were 1.67 million housing starts in December, higher than expected.

 

Dow Jones -37 at 30,960

S&P 500 +14 at 3,855

NASDAQ +93 at 13,636

 

The 10 Year Treasury closed down 5 basis points yielding 1.04%

Oil prices closed up $0.53 ending at $52.79 a barrel

Gold prices closed down $1 ending at $1,855 an ounce

 

Corporate news:

  • Shares of GameStop moved 18% higher and have increased over 300% since the start of the year. This is due to a battle between GameStop enthusiasts and short sellers.
  • Merck announced it is ending its Covid-19 vaccine program, due to inferior immune responses generated by its vaccine candidates. Merck will continue to develop COVID-19 treatments.
  • Uber laid off about 185 people from its newly acquired Postmates division, which represents about 15% of the Postmates workforce. This comes as Uber works to consolidate the food delivery service with its Uber Eats operation.

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