July 20, 2021

July 20, 2021

The market closed up today as stocks recovered most of yesterday’s losses. In economic news, business inventories rose 0.5% during May, as expected.

 

Dow Jones finished +550 at 34,511

S&P 500 finished +65 at 4,323

NASDAQ finished +224 at 14,498

 

The 10 Year Treasury closed up 3 basis points yielding 1.21%

Oil prices closed up $0.90 ending at $67.32 a barrel

Gold prices closed up $0.80 ending at $1,810 an ounce

 

In corporate news:

 

  • Shares of IBM closed up 1.4% after the company beat earnings and revenue estimates for its latest quarter. This was helped by IBM’s cloud and software businesses.
  • Comcast and ViacomCBS shares closed up about 1% after it was announced the two companies discussed a possible international streaming partnership.
  • Travelers beat earnings and revenue estimates for its second quarter. Travelers benefited from higher premiums, improved investment returns, and lower disaster losses.

 

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