June 17, 2021

June 17, 2021

Stocks closed the day mixed, with the NASDAQ being the only major index in positive territory. In economic news, there were 412,000 jobless claims last week, more than the expected 360,000.

 

Dow Jones -210 at 33,824

S&P 500 -2 at 4,222

NASDAQ +122 at 14,151

 

The 10 Year Treasury closed down 6 basis points yielding 1.51%

Oil prices closed down $1.05 ending at $71.10 a barrel

Gold prices closed down $83 ending at $1,777 an ounce

 

Corporate news:

 

  • Shares of The Honest Company dropped 7% after the company reported a wider-than-expected loss in its first quarter as a public company. Revenue, however, did beat expectations, with sales getting a boost from pandemic-induced demand for sanitizing products.

 

  • Jack In The Box shares moved 1% higher after RBC Capital said it expects the company to outperform, noting the stock’s discounted valuation compared to its peers as well as upbeat prospects for new restaurant growth.

 

  • Fisker shares moved 3% higher after the electric vehicle maker signed a long-term manufacturing agreement with Magna International. Magna will build the Fisker Ocean electric SUV starting in November 2022.

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