July 20, 2020

July 20, 2020

Stocks opened mixed to begin the week but gained momentum throughout the day, with every major index finishing in positive territory. This increase was due in part by Oxford and AstraZeneca both showing positive response in early trials of their Covid-19 vaccine candidates.

 

Dow Jones +9 at 26,681

S&P 500 +27 at 3,252

NASDAQ +264 at 10,767

 

The 10 Year Treasury closed down 1 basis point yielding 0.62%

Oil prices closed up $0.12 ending at $40.71 a barrel

Gold prices closed up $9 ending at $1,819 an ounce

 

The days’ stock news:

  • Shares of the electric truck maker, Nikola, dropped 21% after the company announced it has filed for a new stock offering of up to 53.4 million shares.
  • Delta Airlines told its pilots furloughs could be avoided if they agree to a reduction in guaranteed minimum pay. Delta shares declined 3% today.
  • Goldman and Jeffries both raised their price targets for Amazon to $3,800 per share, pointing to accelerated online spending this year.

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