July 23, 2021

July 23, 2021

Stocks closed higher for a 4th straight day, with every major index in positive territory. In economic news, there were 5.86 million existing home sales during June, slightly less than expected.

 

Dow Jones finished +238 at 35,061

S&P 500 finished +44 at 4,411

NASDAQ finished +152 at 14,836

 

The 10 Year Treasury closed up 2 basis points yielding 1.28%

Oil prices closed up $0.14 ending at $72.05 a barrel

Gold prices closed down $3.80 ending at $1,801 an ounce

 

In corporate news:

 

  • Shares of Twitter closed up 3% after the social media company beat earnings and revenue topped estimates as ad sales surged 87% from this time last year. Twitter also gave an upbeat current-quarter revenue forecast.
  • Boston Beer shares closed down 26% after the company missed earnings and revenue estimates, and cut its financial outlook for 2021, citing weaker than expected sales of its hard seltzer brands.
  • Snap shares closed 24% higher after the company had a surprise quarterly profit and beating revenue estimates. Snap also reported higher-than-expected daily users.

 

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