November 8, 2021

November 8, 2021

Stocks moved higher to begin the week, with the DOW, S&P, and NASDAQ all finishing in positive territory. In economic news, construction spending had a surprise drop of 0.5% during September.

 

Dow Jones +104 at 36,432

S&P 500 +4 at 4,702

NASDAQ +11 at 15,982

 

The 10 Year Treasury closed up 4 basis point yielding 1.50%

Oil prices closed up $1.00 ending at $82.27 a barrel

Gold prices closed up $10 ending at $1,826 an ounce

 

Corporate news:

  • Shares of Coty finished up 15% after reporting better-than-expected results for its fiscal 1st Coty also announced it was selling more of its stake in Wella to KKR.

 

  • Live Nation shares declined 5% after multiple people died at a Travis Scott concert, which live nation hosted. Live Nation has reportedly been named a defendant in lawsuits about the event.

 

  • Tesla shares dropped 5% after CEO Elon Musk had a twitter poll to see if he should sell 10% of his stock in the company.

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