May 25, 2021

May 25, 2021

U.S. stocks wiped out earlier gains and closed negative today as the market struggled for a direction after new data on consumer confidence missed expectations.

 

Dow Jones finished -82 at 34,312

S&P 500 finished -9 at 4,188

NASDAQ finished -4 at 13,657

 

The 10 Year Treasury closed down 5 basis points yielding 1.56%

Oil prices closed down $0.25 ending at $65.80 a barrel.

Gold prices closed up $15.20 ending at $1,900 an ounce.

 

In the days’ stock news:

 

  • Moderna closed up more than 3% after the company said its Covid-19 vaccine is 100% effective in teens. Moderna said it plans to ask the Food and Drug Administration to expand the emergency use of its Covid vaccine for teens early next month.
  • Petco closed down more than 2% after the company announced a secondary stock offering of 22 million shares. The selling stockholder gave underwriters a 30-day option to purchase another 3.3 million shares. Petco will not receive any proceeds from the offering, the company said.

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