June 2, 2020

Stocks opened higher this morning and after a volatile day every major index managed to finish in positive territory. In economic news, the U.S. manufacturing activity has pulled off an 11 year low in May.

Dow Jones +268 at 25,743

S&P 500 +25 at 3,081

NASDAQ +56 at 9,608

The 10 Year Treasury closed up 2 basis points yielding 0.68%

Oil prices closed up $1.41 ending at $36.85 a barrel

Gold prices closed down $17 ending at $1,734 an ounce

The days’ stock news:

Shares of Southwest increased about 3% after its CEO said in an effort to ensure the airline’s survival it is offering workers buyout packages and temporary paid leaves.
Visa said U.S. payment volumes fell by 5% in May, which was slower than the 18% decline in April and a possible indication that consumer spending is recovering as the lockdowns are eased.
Apple is cutting iPhone prices in China, as it seeks to extend its momentum since the start of the reopening of the Chinese economy.