October 26, 2020

October 26, 2020

Stocks fell sharply today as coronavirus infections jumped in both the US and Europe and negotiations for a fiscal stimulus package before the election stalled once again.

 

Dow Jones finished -650 at 27,685

S&P 500 finished -64 at 3,400

NASDAQ finished -189 at 11,358

 

The 10 Year Treasury closed down 4 basis points yielding 0.80%

Oil prices closed down $1.31 ending at $38.54 a barrel

Gold prices closed down $0.80 ending at $1,904 an ounce

 

In the days’ stock news:

 

  • Dunkin’ Brands closed up more than 16% after the company said it held preliminary talks regarding its potential acquisition by Inspire Brands, although the company said there’s “no certainty that any agreement will be reached.” The New York Times reported that the deal could value the restaurant chain at nearly $9 billion.
  • The major U.S. airlines sold off today amid a surge in Covid-19 cases and little hope of a fiscal stimulus deal. American and Delta closed down more than 6% a piece. United fell 7% and Southwest was down almost 4%.

 

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