June 9, 2021

June 9, 2021

Stocks opened the day higher but ended with every major index in negative territory. In economic news, there were 9.3 million job openings in April, higher than the expected 8.2 million.

 

Dow Jones -153 at 34,447

S&P 500 -8 at 4,220

NASDAQ -13 at 13,912

 

The 10 Year Treasury closed down 4 basis points yielding 1.49%

Oil prices closed down $0.31 ending at $69.74 a barrel

Gold prices closed down $2 ending at $1,890 an ounce

 

Corporate news:

  • Shares of Campbell Soup dropped 7% after the company missed earnings and revenue estimates. Campbell also cut its full-year forecast, reflecting both the quarterly results and the recent sell of its Plum baby food and snack business.

 

  • Merck struck a deal to supply the government with its oral treatment designed to treat mild to moderate cases of Covid-19. This drug is currently being evaluated in a phase 3 trial.

 

  • Sherwin-Williams raised its sales and profit guidance for the year, as the paint maker sees pandemic-induced demand for its products continuing even as the pandemic recedes.

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