July 15, 2020

July 15, 2020

Stocks moved higher, continuing the momentum from yesterday, as investors become more optimistic of a coronavirus vaccine being released. In economic news, the U.S. budget deficit hit an all-time high of $864 billion in June.

 

Dow Jones +228 at 26,870

S&P 500 +29 at 3,227

NASDAQ +62 at 10,551

 

The 10 Year Treasury closed down 2 basis points yielding 0.63%

Oil prices closed up $0.71 ending at $41.00 a barrel

Gold prices closed up $1 ending at $1,814 an ounce

 

The days’ stock news:

  • Shares of Moderna increased 7% after its Covid-19 vaccine candidate produced neutralizing antibodies in all 45 patients involved in an early study. Those antibodies were like those seen in patients who have recovered from the virus.
  • Goldman Sachs helped drive the DOW higher after reporting better-than-expected earnings and revenue for its latest quarter. This was due to a strong performance in investment banking and market business.
  • Massachusetts is the latest state to file a suit against Uber and Lyft, saying the companies incorrectly classified drivers as independent contractors rather than employees, depriving them of benefits.

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