June 10,2020

June 10, 2020

Stocks finished the day mixed, with the NASDAQ ending over 10,000 for the first time in history. In economic news, mortgage demand has risen 13% annually despite rising rates.

 

Dow Jones -282 at 26,990

S&P 500 -17 at 3,190

NASDAQ +67 at 10,020

 

The 10 Year Treasury closed down 8 basis points yielding 0.75%

Oil prices closed up $0.22 ending at $39.16 a barrel

Gold prices closed up $26 ending at $1,748 an ounce

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The days’ stock news:

  • Shares of AMC Entertainment moved 5% higher after the company announced it will reopen theaters globally in July with limited capacity. The company also partnered with Clorox to help keep its theaters as clean as possible.
  • MGM shares dropped 7% despite announcing it will reopen more Las Vegas casinos, following strong performances for the Bellagio, MGM Grand, and New York New York after their reopening.
  • Shares of Nikola, the electric truck maker, declined after a surge yesterday that sent its market value past Ford and Fiat Chrysler, even though it has not sold any vehicles. Nikola went public last week following a reverse merger with a special purpose acquisition company.

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