October 8, 2021

October 8, 2021

Stocks closed down today as investors digested a key report on the labor market’s recovery, which showed a much weaker-than-expected pace of hiring last month.

 

Dow Jones finished -9 at 34,746

S&P 500 finished -8 at 4,391

NASDAQ finished -74 at 14,579

 

The 10 Year Treasury closed up 3 basis points yielding 1.60%

Oil prices closed up $1.24 ending at $79.54 a barrel.

Gold prices closed down $2.00 ending at $1,757 an ounce.

 

In the days’ stock news:

 

  • Moderna stock closed down more than 1% after Finland, Denmark and Sweden announced they would limit the use of the Moderna’s Covid-19 vaccine in young people. The countries made the decision citing concerns around rare cardiovascular side effects.
  • Sirius XM closed down 3.6% after JPMorgan downgraded the stock to neutral from overweight, saying it expects the slowdown in new auto sales to affect new subscriptions. It lowered its December 2022 price target to $7 from $8.

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