July, 14, 2020

July 14, 2020

After a volatile day yesterday, stocks opened lower this morning, but gained momentum and every major managed to finish in positive territory. In economic news, the consumer price index rose 0.6% in June, which was higher than the expected 0.5% increase.

 

Dow Jones +557 at 26,643

S&P 500 +42 at 3,198

NASDAQ +98 at 10,489

 

The 10 Year Treasury closed down 3 basis points yielding 0.62%

Oil prices closed up $0.18 ending at $40.28 a barrel

Gold prices closed down $2 ending at $1,812 an ounce

 

The days’ stock news:

  • Shares of Delta Airlines dropped about 3% after the company posted a second-quarter loss of $5.7 billion and said it will be more than two years before the airline industry sees a sustainable recovery from the covid-19 pandemic.
  • Ford shares moved 5% higher after the automaker unveiled the new version of their Bronco SUV, marking the Bronco’s return to the Ford lineup after a 24-year absence.
  • Spotify was downgraded at UBS, which said the company’s long-term prospects are now solidly reflected in the stock’s price. The firm also stated the benefits of an expansion in podcasting may be overstated.

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