June 22, 2020

Stocks opened lower this morning but gained momentum and closed up with the NASDAQ hitting another record high. In economic news, existing home sales plummeted in May as the coronavirus pandemic continues to hurt the economy.

 

Dow Jones  +154 at 26,025

S&P 500 +20 at 3,118

NASDAQ +110 at 10,056

 

The 10 Year Treasury closed up 1 basis point yielding 0.70%

Oil prices closed up $0.71 ending at $40.46 a barrel

Gold prices closed up $13 ending at $1,766 an ounce

 

The days’ stock news:

  • Shares of Virgin Galactic finished the day 15% higher after announcing it has signed a deal with NASA to develop a recruitment and training program, for private astronauts seeking to visit the International Space Station.
  • Microsoft received and upgrade at UBS, which cited greater productivity, fast growth in e-commerce, and its acceleration of technology development. Microsoft shares increased over 2% today.
  • PG&E announced it has completed the first stage of its bankruptcy exit financing plan. PG&E shares dropped over 1% today.