May 19, 2020

May 19, 2020

After a volatile day, stocks ended down giving back about half of yesterday’s big rally. In Economic news, U.S. home building dropped to a 5-year low in April.


Dow Jones -391 at 24,207

S&P 500 -31 at 2,923

NASDAQ -50 at 9,185


The 10 Year Treasury closed down 3 basis points yielding 0.71%

Oil prices closed up $0.68 ending at $32.50 a barrel

Gold prices closed up $13 ending at $1,747 an ounce


In the days’ stock news:

  • Walmart beat earnings, revenue, and same-store sales estimates. Walmart did withdraw its 2020 guidance due to the virus-related uncertainty and announced it would discontinue the brand.
  • Sony will take full control of its publicly listed financial arm, Sony Financial holdings, through a $3.7 billion tender offer.
  • Tesla’s car registrations in China fell 64% in April compared to March. Tesla shares dropped about 1%.
  • Southwest Airlines said its May operating revenue is down 85-90% from a year ago, with June operating revenue down 80-85%. The airline did say it is seeing modest improvement in passenger demand and bookings, helping its stock rise about 2% this morning.

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