October 6, 2020

October 6, 2020

Stocks fell today after President Donald Trump said he opposed House Democrats’ $2.4 trillion virus relief proposal, effectively stamping out hopes that another round of fiscal stimulus to aid the virus-troubled economy would come before the election.

 

Dow Jones finished -376 at 27,772

S&P 500 finished -48 at 3,360

NASDAQ finished -178 at 11,154

 

The 10 Year Treasury closed down 1 basis point yielding 0.75%

Oil prices closed up $0.82 ending at $40.04 a barrel

Gold prices closed down $27.40 ending at $1,892 an ounce

 

In the days’ stock news:

 

  • Boeing closed almost 7% lower after slashing its 10-year forecast for new aircraft demand by 11% from a year ago. Boeing said the world’s airlines will need 18,350 planes worth $2.9 trillion over the next 10 years.
  • Amgen, one of the newest members of the DOW, announced positive results in a phase 2 study of an experimental treatment for non-small cell lung cancer.

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