October 19, 2020

October 19, 2020

Stocks opened higher this morning but turned negative early on as investors are still waiting on congress to make a deal for the next stimulus package. In economic news, there were 898,000 jobless claims last week, higher than expected.

 

Dow Jones -411 at 28,195

S&P 500 -57 at 3,427

NASDAQ -193 at 11,479

 

The 10 Year Treasury closed up 2 basis points yielding 0.76%

Oil prices closed down $0.26 ending at $40.62 a barrel

Gold prices closed flat ending at $1,901 an ounce

 

Corporate news:

  • Shares of AstraZeneca opened higher after a report said the company’s Covid-19 vaccine could be ready to use by the end of this year.
  • American Airlines is planning a December return to service for the currently grounded Boeing 737 Max jet, pending FAA recertification of the aircraft.
  • AMC Entertainment plans to resume operation at theaters in New York State on October 23rd. Once these theaters open, the company will have theaters open in 4 4out of the 45 states in which it operates.

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