October 12, 2020

October 12, 2020

Stocks moved higher to begin the week, with the NASDAQ leading the way, up over 2%. In economic news, there were 840,000 jobless claims last week, higher than the expected 820,000.

 

Dow Jones +251 at 28,838

S&P 500 +57 at 3,534

NASDAQ +296 at 11,876

 

The 10 Year Treasury closed flat yielding 0.78%

Oil prices closed down $1.08 ending at $39.52 a barrel

Gold prices closed up $3 ending at $1,923 an ounce

 

The days’ stock news:

  • Shares of AstraZeneca increased 1% after the European drug maker struck a deal with the U.S. Government to develop and supply up to 100,000 doses of its Covid-19 antibody treatment.
  • The Justice Department and state attorneys general are discussing whether to force Alphabet to sell its Chrome browser. These talks come ahead of an anticipated antitrust lawsuit. Alphabet shares moved over 3% higher.
  • DraftKings shares increased over 3% after Credit Suisse said it expects the betting company’s stock to outperform, pointing to marketing relationships and an acceleration in the legalization of sports betting and online gaming in the U.S.

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