June 16, 2020

June 16, 2020

Stocks opened higher this morning and continued that trend all day with every major index finishing about 2% higher. In economic news, retail sales rebound 17.7% in May, its largest one-month gain in history.

 

Dow Jones +527 at 26,290

S&P 500 +58 at 3,125

NASDAQ +170 at 9,896

 

The 10 Year Treasury closed up 5 basis points yielding 0.76%

Oil prices closed up $0.97 ending at $38.09 a barrel

Gold prices closed up $8 ending at $1,735 an ounce

 

The days’ stock news:

  • The European Union has opened antitrust probes into Apple, based on its App Store and Pay Service. The EU is looking into whether restrictions imposed by Apple violate its competition rules.
  • Walmart bought technology and intellectual property from CareZone, a developer of apps that help customers manage their medications. Shares of Walmart increased over 1%.
  • Shares of Weight Watchers moved 19% higher after saying it has 4.9 million subscribers as of June, a 7% increase from a year earlier. Digital subscribers are at an all-time high, getting a boost from people staying at home during the pandemic.

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