July 21, 2020

July 21, 2020

Stocks opened higher this morning, continuing the rally from yesterday, with the DOW and S&P finishing in positive territory. In economic news, U.S. home construction jumped 17.3% in June.

 

Dow Jones +160 at 26,840

S&P 500 +5 at 3,257

NASDAQ -87 at 10,680

 

The 10 Year Treasury closed down 1 basis point yielding 0.61%

Oil prices closed up $1.15 ending at $41.96 a barrel

Gold prices closed up $23 ending at $1,841 an ounce

 

The days’ stock news:

  • IBM helped drive the DOW higher after the company beat earnings and revenue estimates. this was helped by better-than-expected results in cloud software sales and mainframe revenue.
  • Starbucks expanded its partnership with China’s Alibaba, with Chinese customers now able to order Starbucks on Alibaba’s marketplace and its mobile app.
  • Amazon officially delayed its “Prime Day” shopping event, which is usually held in mid-July. The company says the new date will most likely be in early October.

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