October 23, 2020

October 23, 2020

Stocks were volatile today, with the S&P and NASDAQ finishing in positive territory. In economic news, there were 6.54 million existing home sales in September, higher than expected.

 

Dow Jones -28 at 28,336

S&P 500 -12 at 3,465

NASDAQ -42 at 11,548

 

The 10 Year Treasury closed down 1 basis point yielding 0.84%

Oil prices closed down $0.92 ending at $39.72 a barrel

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

 

In corporate news:

  • Shares of Gilead Sciences increased after the FDA approved Gilead’s antiviral drug remdesivir as a treatment for Covid. The drug had previously been authorized for emergency use.
  • Shake Shack shares increased 3% after Oppenheimer said Shake Shack’s U.S. footprint could grow to 3 times its current size.
  • Capital One Financial reported $7.38 billion in revenue for its latest quarter, which beat expectations. The company’s non-interest income rose nearly 50% year over year.

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