November 17, 2021

November 17, 2021

U.S. stocks closed down today as investors weighed a continuation of strong earnings reports from big-box retailers against lingering inflation concerns.

 

Dow Jones finished -211 at 35,931

S&P 500 finished -12 at 4,688

NASDAQ finished -52 at 15,921

 

The 10 Year Treasury closed down 4 basis points yielding 1.59%

Oil prices closed down $2.45 ending at $78.31 a barrel.

Gold prices closed up $14.80 ending at $1,868 an ounce.

 

In the days’ stock news:

 

  • Target shares closed down 4.7% despite posting beats on the top and bottom lines. Their CEO noted rising costs may have an impact on the company going forward as it plans to absorb those costs rather than pass them onto the customer.
  • Rivian closed down more than 15% in its first losing session since the electric vehicle maker went public last Wednesday. The company quickly surpassed traditional automakers like Ford and GM in market value since its IPO.

 

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