June 8, 2020

June 8, 2020

Stocks moved higher to begin the week as investors remain optimistic about the reopening of the economy. In economic news, 2.5 million new jobs were added in May, the largest increase ever recorded.

 

Dow Jones +460 at 27,572

S&P 500 +38 at 3,232

NASDAQ +111 at 9,925

 

The 10 Year Treasury closed down 2 basis points yielding 0.88%

Oil prices closed down $1.34 ending at $38.21 a barrel

Gold prices closed up $23 ending at $1,706 an ounce

 

The days’ stock news:

  • Shares of travel companies like United, Delta, Expedia, and Carnival all moved over 8% higher as lockdowns continue to ease and demand increases.
  • Amazon shares increased about 2% after RBC Capital raised its price target to $3,300 per share, saying that online retail is a structural winner resulting from the Covid-19 pandemic and that Amazon is the best company in that category.
  • Dunkin’ Brands was upgraded at KeyBanc, which noted good execution by the restaurant chain during the pandemic positions it well to benefit as states reopen.

Daily Updates

January 19, 202.

Stocks closed up today as traders returned from a long...

January 15, 202.

Stocks dipped as traders considered details of President-elect Joe Biden’s...

January 14, 202.

Stocks closed down today after the Labor Department’s weekly jobless...

Monthly Updates

Dow 30,000.

November through January is traditionally the best time of the...

Rising COVID, F.

October has a bad reputation as it has been the...

Overdue Correct.

Technology stocks helped push the S&P 500 nearly 60% above...

Stay up to date with our newsletter