November 5, 2020

November 5, 2020

Stocks jumped today to extend a rally from a day earlier, as traders prepared for the outcome of the U.S. election, with several key states’ results still hanging in balance. In economic news, the Federal Reserve said the U.S. economy and employment improved since September but held interest rates at near-zero as the economy continues to face “considerable risks” ahead.

Dow Jones finished +543 at 28,390

S&P 500 finished +67 at 3,510

NASDAQ finished +300 at 11,890

The 10 Year Treasury closed even yielding 0.77%

Oil prices closed down $0.62 ending at $38.53 a barrel

Gold prices closed up $54.90 ending at $1,951 an ounce

In the days’ stock news:

• Match Group rose more than 4% after the company said that the pandemic boosted the popularity of its services during the third quarter, with Tinder seeing a 16% jump in average subscriber growth. Revenue grew 18% year over year to $640 million.
• General Motors closed up more than 5% after posting better-than-expected earnings for the third quarter. GM earned an adjusted $2.83 per share.