March 17, 2020

Stocks moved higher today as they try to chip away from the recent losses. In economic news, the White House announced it is seeking a $1 trillion stimulus package to address the impact of the Coronavirus.

 

Here’s a look at how the major indices finished the day:

Dow Jones +1,049 at 21,237

S&P 500 +143 at 2,529

NASDAQ +430 at 7,335

 

The 10 Year Treasury closed up 27 basis points yielding 1.00%

Oil prices closed down $1.68 ending at $27.32 a barrel

Gold prices closed up $48 ending at $1,534 an ounce

 

In the days’ stock news:

  • Amazon shares increased 7% after the company said it would hire 100,000 workers to deal with a crush of new orders, resulting from a significant jump in the number of people remaining at home amid the virus outbreak.
  • Boeing’s debt ratings were downgraded by one notch to BBB. The rating agency is saying the jet maker’s cash flow for the next two years will be much weaker than originally expected.
  • Nordstrom announced it will close its stores in the U.S. and Canada for two weeks and withdrew its fiscal 2020 forecast.
  • Clorox was upgraded at JPMorgan Chase, as demand for disinfectant products surge.