November 30, 2020

November 30, 2020

Stocks fell sharply today as investors cashed in some of the historically strong gains logged in November.

 

Dow Jones finished -271 at 29,638

S&P 500 finished -17 at 3,621

NASDAQ finished -7 at 12,198

 

The 10 Year Treasury closed up 1 basis point yielding 0.85%

Oil prices closed down $0.40 ending at $45.13 a barrel

Gold prices closed down $8.40 ending at $1,779 an ounce

 

In the days’ stock news:

 

  • Shares of Nikola dropped more than 27% after General Motors gave up its equity stake in the electric vehicle maker as part of a smaller deal between the two companies. In September, the two companies announced a $2 billion deal that gave GM an 11% stake in Nikola to supply battery and fuel-cell technologies. GM had also agreed to build Nikola’s Badger pickup truck. Under the new deal, GM will not build the truck.
  • Slack popped more than 5% after it was reported that Salesforce’s deal to buy Slack is expected to be announced Tuesday after the market close. Shares of Salesforce were down .52%.

 

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