October 5, 2021

October 5, 2021

Stocks moved higher today, with the DOW, S&P, and NASDAQ all gaining back part of the losses sustained yesterday. In economic news, capital goods orders increased 0.6% during August.

 

Dow Jones +312 at 34,315

S&P 500 +45 at 4,346

NASDAQ +178 at 14,434

 

The 10 Year Treasury closed up 5 basis points yielding 1.53%

Oil prices closed up $1.56 ending at $79.18 a barrel

Gold prices closed down $6 ending at $1,760 an ounce

 

Corporate news:

  • Shares of PepsiCo increased about 1% after the company beat earnings and revenue estimates for its latest quarter. Pepsi also raised its annual revenue forecast as the easing of the pandemic restrictions continues.

 

  • Albertsons shares dropped 2% after BMO Capital downgraded the stock, noting an increase in wage costs and a more price-sensitive consumer environment.

 

  • Southwest airlines became the latest airline to mandate the covid-19 vaccine for its workers. Southwest shares declined 1% today.

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