October 11, 2021

October 11, 2021

Stocks dropped today, with the DOW, S&P and NASDAQ all finishing in negative territory. In economic news, factory orders increased 1.2% during August, 9% more than expected.

 

Dow Jones -250 at 34,496

S&P 500 -30 at 4,361

NASDAQ -93 up 14,486

 

The 10 Year Treasury closed up 1 basis point yielding 1.61%

Oil prices closed up $1.10 ending at $80.45 a barrel

Gold prices closed down $3 ending at $1,754 an ounce

 

Corporate news:

  • Shares of Southwest Airlines declined 4% after the company cancelled more than 1,800 flights over the weekend, citing bad weather, air traffic control issues and staff shortages.

 

  • Robinhood shares opened lower after the SEC said the risks of increased regulation of cryptocurrency trading as well as possible new rules surrounding payment for order flow.

 

  • Starbucks shares opened higher after Deutsche Bank upgraded the stock, citing incredible U.S. momentum and the prospect of sustained unit growth in China.

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