October 16, 2020

October 16, 2020

Stocks finished the day mixed, with the DOW and S&P finishing in positive territory. In economic news, retail sales were 1.9% in September, higher than the expected 1.2%.

 

Dow Jones +113 at 28,606

S&P 500 +1 at 3,484

NASDAQ -42 at 11,672

 

The 10 Year Treasury closed up 1 basis point yielding 0.74%

Oil prices closed down $0.20 ending at $40.76 a barrel

Gold prices closed down $2 ending at $1,901 an ounce

 

The days’ stock news:

  • Shares of Ford Motor moved 1% higher after the company reported a 25% year-over-year increase in China sales, the second straight quarterly increase after 3 years of decline.
  • The European Union Aviation Safety Agency said Boeing’s 737 Max jet is safe enough to return to service. This would be the first time in over a year the 737 Max jet would be able to fly. Boeing’s shares finished the day up 2%.
  • Wells Fargo upgraded the heavy equipment maker Caterpillar in anticipation of a substantial earnings improvement beginning in 2021. Caterpillar shares increased over 2% today.

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