October 29, 2020

October 29, 2020

Stocks closed up today after the three major indices suffered a beating a day earlier. Investors digested a record surge in third-quarter GDP after a historic slump earlier this year, and another weekly report on jobless claims that came in better-than-expected.

Dow Jones finished +139 at 26,659

S&P 500 finished +39 at 3,310

NASDAQ finished +181 at 11,185

The 10 Year Treasury closed up 5 basis points yielding 0.83%

Oil prices closed down $1.00 ending at $36.39 a barrel

Gold prices closed down $8.10 ending at $1,871 an ounce

In the days’ stock news:

• Ford jumped almost 3% after the automaker posted quarterly results that blew past analysts’ expectations. Ford posted an adjusted earnings per share of 65 cents.
• Shares of Spotify dropped more than 3% after the streaming music service reported a slightly wider-than-expected loss.