October 28, 2020

October 28, 2020

Stocks dropped sharply today as investors nervously eyed elevated coronavirus case counts in the U.S. and Europe, weighed outcomes of Election Day next week and contemplated when another round of fiscal stimulus out of Washington might get passed.

Dow Jones finished -943 at 26,519

S&P 500 finished -120 at 3,271

NASDAQ finished -426 at 11,004

The 10 Year Treasury closed even yielding 0.78%

Oil prices closed down $2.21 ending at $37.36 a barrel

Gold prices closed down $33.20 ending at $1,878 an ounce

In the days’ stock news:

• General Electric reported a third-quarter profit of 6 cents per share, compared to forecasts for a loss of 4 cents per share. Revenue came in above estimates as well. GE closed up 4.65%.
• Garmin beat estimates by 59 cents a share, with quarterly earnings of $1.58 per share. Revenue also beat Wall Street forecasts. Garmin closed down 1.05%.