July 14, 2021

July 14, 2021

Stocks finished the day mixed, with the DOW and S&P both finishing in positive territory, while the NASDAQ dropped lower. In economic news, the producer price index rose 1% during June, more than the expected 0.6% rise.

 

Dow Jones +45 at 34,933

S&P 500 +5 at 4,374

NASDAQ -33 at 14,645

 

The 10 Year Treasury closed down 6 basis point yielding 1.36%

Oil prices closed down $2.56 ending at $72.70 a barrel

Gold prices closed up $16 ending at $1,826 an ounce

 

Corporate news:

 

  • Shares of Peloton dropped 5% after Wedbush Securities downgraded the fitness equipment maker’s stock, citing consumers now have a growing number of workout alternatives, as well as the post-pandemic option of out-of-home workouts.

 

  • American Airlines expects to report a positive cash flow for the second quarter, the first time that has happened since the pandemic began. American Airlines shares increased 3% today.

 

  • Lululemon shares moved 2% higher after Goldman gave the company a buy rating, saying the post-covid period has been favorable for apparel and strong brands.

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