October 2, 2020

October 2, 2020

After a volatile session, all major indices finished in negative territory. This was due to President Trump and First Lady Milania confirming they both tested positive for the coronavirus. In economic news, U.S. jobs rose by 661,000 in September, lower than the expected 800,000.

 

Dow Jones -134 at 27,683

S&P 500 -32 at 3,348

NASDAQ -251 at 11,075

 

The 10 Year Treasury closed up 2 basis points yielding 0.70%

Oil prices closed down $1.70 ending at $37.02 a barrel

Gold prices closed down $6 ending at $1,902 an ounce

 

The days’ stock news:

  • Shares of Walmart dropped 2% after the retailer announced the sale of its British supermarket chain, Asda, for $8.8 billion. The buying group consists of TDR Capital and the Issa brothers.
  • Private equity firm Greenbriar Equity will invest $500 million in Uber’s logistics unit Uber Freight, valuing it at $3.3 billion. Uber will still maintain majority ownership of that business.
  • Southwest Airlines CEO told workers in a video message that layoffs could be looming if more aid to the airline industry does not come. Shares of Southwest increased over 2% today.

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