June 12, 2020

June 12, 2020

The markets opened higher but spent the day going in and out of positive territory after the CDC said states may need to re-implement strict social distancing rules if the number of new cases increases dramatically.

 

Dow Jones +477 at 25,606

S&P 500 +39 at 3,041

NASDAQ +96 at 9,589

 

The 10 Year Treasury closed down 5 basis points yielding 0.70%

Oil prices closed up $0.09 ending at $36.43 a barrel

Gold prices closed down $2 ending at $1,738 an ounce

 

The days’ stock news:

  • Shares of the athletic apparel maker, Lululemon, dropped 4% after the company missed earnings and revenue estimates. This was the company’s first earnings miss in 3 years and was caused by the virus-related lock downs.
  • Southwest Airlines was upgraded at Credit Suisse, which feels the airlines is well-positioned to benefit from a comeback in leisure travel. Shares of Southwest increased 9%.
  • Shares of Tesla dropped 4% after being downgraded at Morgan Stanley, which noted several factors including the automaker’s need for more capital, near term demand pressure, and tech competition.

Daily Updates

January 24, 202.

Stocks had a dramatic comeback today as investors stepped in...

January 21, 202.

Stocks closed down today with investors rotating further away from...

January 18, 202.

The major averages fell sharply Tuesday after Goldman Sachs reported...

Monthly Updates

Omicron Fears E.

Last month we pointed out that December is the best...

Another Covid V.

November is historically a good month for the market and...

Best Month of t.

Earnings are the fuel that drives the train and the...

Stay up to date with our newsletter