March 17, 2021

March 17, 2021

U.S. stocks closed higher today after the Federal Reserve said it sees no interest rate hikes through 2023 and that it will let inflation run hotter than usual to ensure a full economic recovery.

 

Dow Jones finished +189 at 33,015

S&P 500 finished +11 at 3,974

NASDAQ finished +54 at 13,525

 

The 10 Year Treasury closed up 2 basis points yielding 1.64%

Oil prices closed down $0.20 ending at $64.60 a barrel.

Gold prices closed up $12.40 ending at $1,743 an ounce.

 

In the days’ stock news:

 

  • Lennar closed up more than 13% after reporting strong quarterly results. Lennar reported earnings per share of $2.04. Revenue came in at $5.33 billion, topping estimates of $5.13 billion.
  • Uber closed down more than 4% after the company said it would grant U.K. drivers worker status, minimum wage and certain benefits. Uber’s decision came after the country’s Supreme Court upheld a ruling that a group of drivers were workers, not independent contractors.

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