Jul 8, 2020

July 8, 2020

Stocks opened slightly higher and spent the day goin gin and out of positive territory, with the NASDAQ finishing at a record high for the 25th time this year.

 

Dow Jones +177 at 26,067

S&P 500 +25 at 3,170

NASDAQ +150 at 10,493

 

The 10 Year Treasury closed flat yielding 0.65%

Oil prices closed up $0.22 ending at $40.84 a barrel

Gold prices closed up $8 ending at $1,818 an ounce

 

The days’ stock news:

  • Shares of the electric truck maker, Nikola, moved 34% higher after receiving an upgrade from JPMorgan, which noted the stock is starting to look attractive for long-term investors in view of multiple potential positive catalysts.
  • The tobacco giant, Altria, was downgraded at Barclays, which said the company is “100% U.S.-exposed and continues to lose market share.”
  • American Express shares dropped after being downgraded at Citigroup, citing the potential for topline headwinds moving forward.

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