June 3, 2020

June 3, 2020

Stocks opened higher for a second straight morning and continued higher throughout the day as investors remain optimistic about the reopening of the economy.

 

Dow Jones +527  at 26,270

S&P 500 +42 at 3,123

NASDAQ +75 at 9,683

 

The 10 Year Treasury closed up 8 basis points yielding 0.76%

Oil prices closed up $0.10 ending at $36.91 a barrel

Gold prices closed down $34 ending at $1,700 an ounce

 

The days’ stock news:

  • Shares of Campbell Soup dropped 6% despite beating earnings and revenue forecasts. Campbell also raised its full-year guidance, noting an increase in demand across all its brands amid the pandemic.
  • Amazon is planning a summer sale event that would kick off June 22. This event is designed to help sellers who have been hurt by the pandemic and the postponement of Prime Day.
  • Shares of car manufacturers such as Ford, Toyota and General Motors all moved at least 2% higher after the research firm Autodata reported that May auto sales were better-than-expected

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