October 21, 2020

October 21, 2020

Stocks opened mixed this morning and spent the day going in and out of positive territory. In economic news, there were 1.553 million new building permits in September, higher than expected.

Dow Jones -98 at 28,211

S&P 500 -8 at 3,436

NASDAQ -32 at 11,485

The 10 Year Treasury closed up 2 basis points yielding 0.82%

Oil prices closed down $1.66 ending at $40.04 a barrel

Gold prices closed up $12 ending at $1,923 an ounce

In corporate news:

• Shares of Snap increased 28% after the company reported a surprise profit for its latest quarter. This was due to stronger-than-expected user growth as more people signed up to use the service during the pandemic.
• Disney said updated California state guidelines will keep its Disneyland theme park shut for the foreseeable future. Disney shares ended the day up over 1%.
• AstraZeneca expects to resume its Covid-19 vaccine trial in the United States as soon as this week. The study was halted in early September while officials reviewed an illness experienced by a study participant.