October 7, 2020

October 7, 2020

Stocks opened 1% higher, and kept the momentum throughout the day, with every major index finishing up roughly 2%. In economic news, there were 6.5 million job openings in August, lower than the previous month.

 

Dow Jones +531 at 28,303

S&P 500 +59 at 3, 419

NASDAQ +210 at 11,365

 

The 10 Year Treasury closed up 4 basis points yielding 0.79%

Oil prices closed down $0.64 ending at $40.03 a barrel

Gold prices closed down $18 ending at $1,884 an ounce

 

The days’ stock news:

  • Shares of airline companies like United, American, and Delta are all increased over 2% after President Trump called for standalone aid for the airline industry.
  • The FAA issued new proposed training procedures for Boeing’s grounded 737 Max jet. This is a key step in the jet’s return to service. The proposal will be finalized on November 2nd. Boeing shares finished the day 3% higher.
  • Netflix shares increased 6% after Pivotal Research raised its price target on Netflix to a Street-high $650 per share. This was based on accelerating cord-cutting trends and the view that Netflix is likely to remain the dominant global player in the streaming video-on-demand market.

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