July, 13, 2020

July 13, 2020

Stocks opened higher and spent most of the day up. However, they closed mixed after Governor Newsom announced California will be shutting down various businesses again as the state has seen a continuous rise in Covid-19 cases.

Dow Jones +11 at 26,086

S&P 500 -30 at 3,155

NASDAQ -227 at 10,391

The 10 Year Treasury closed up 1 basis point yielding 0.64%

Oil prices closed down $0.94 ending at $39.61 a barrel

Gold prices closed up $3 ending at $1,804 an ounce

The days’ stock news:

• Shares of Carnival, which are down roughly 65% since the start of the year, dropped another 5% today after the cruise line operator announced it will cut 13 ships from its fleet, reducing capacity by 9%.
• AMC, the nation’s largest theater chain, will receive $300 million in new money from investors, as the company tries to restart its business. AMC shares ended the day down 7%.
• Tesla shares increased substantially after the company announced it will cut the price of its model Y SUV by $3,000, putting the starting price at just under $50,000. However, Tesla’ stock ended the day down 3%.