Stocks moved higher today, with every major index finishing in positive territory. In economic news, U.S. producer prices posted its biggest drop in five years.
Here’s a look at how the major indices finished the day:
Dow Jones +188 at 20,087
S&P 500 +11 at 2,409
NASDAQ +161 at 7,151
The 10 Year Treasury closed down 15 basis points yielding 1.12%
Oil prices closed up $5.30 ending at $26.13 a barrel
Gold prices closed up $3 ending at $1,481 an ounce
In the days’ stock news:
- Square shares moved over 1% higher after the company announced it has won the approval of federal and state banking regulators to open its own bank in Utah, which is expected to open in 2021.
- Best Buy said it will remain open but will shorten hour and only allow a small number of customers in a store at a time. Best Buy shares increased over 1% today.
- JPMorgan Chase announced it will temporarily close about 1,000 branches to help protect employees and reduce the spread of the Coronavirus.
- AbbVie’s Kaletra HIV treatment did not prove effective against the Coronavirus. AbbVie shares are down 2% this morning.