July 30, 2021

July 30, 2021

Stocks declined today, with every major index finishing in negative territory. In economic news, there were 400,000 jobless claims last week, more than the expected 380,000.

 

Dow Jones -150 at 34,935

S&P 500 -24 at 4,395

NASDAQ -106 at 14,673

 

The 10 Year Treasury closed down 3 basis points yielding 1.24%

Oil prices closed up $0.22 ending at $73.84 a barrel

Gold prices closed down $19 ending at $1,812 an ounce

 

Corporate news:

 

  • Shares of Amazon dropped 8% after the company missed revenue estimates for the first time since 2018. However, Amazon did manage to beat earnings estimates by 23%.

 

  • Chevron beat earnings and revenue estimates for its latest quarter. This was helped by a rise in oil prices and improved market conditions. Chevron shares ended the day down 1%.

 

  • Robinhood debuted yesterday with an IPO price of $38 per share. Since the trading platform began trading publicly, the stock has dropped 12% and remains volatile.

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