October 18, 2021

October 18, 2021

Stocks rebounded today, after opening lower, as investors bet on a continuation of strong earnings reports from major companies.

 

Dow Jones finished -36 at 35,258

S&P 500 finished +15 at 4,486

NASDAQ finished +124 at 15,021

 

The 10 Year Treasury closed up 2 basis points yielding 1.59%

Oil prices closed up $0.11 ending at $82.39 a barrel.

Gold prices closed down $3.00 ending at $1,765 an ounce.

 

In the days’ stock news:

 

  • Zillow closed down more than 9% after they announced that they would not sign any new contracts to buy homes through the end of the year “due to a backlog in renovations and operational capacity constraints.” In a press release, the company’s CEO cited labor and supply issues as a reason for the backlog.
  • Biogen closed down 4% after announcing its late-stage trial of an experiment ALS treatment did not reach its primary goal.

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