October 9, 2020

Stocks moved higher today, as investors continue to be optimistic about congress agreeing on a 2^nd stimulus package. In economic news, the trade deficit was 67.1 billion in August, slightly higher than the expected 66.7 billion.

Dow Jones +161 at 28,587

S&P 500 +30 at 3,477

NASDAQ +159 at 11,580

The 10 Year Treasury closed up 1 basis point yielding 0.78%

Oil prices closed down $0.66 ending at $40.53 a barrel

Gold prices closed up $39 ending at $1,927 an ounce

The days’ stock news:

AMD is in advanced talks to buy the specialty chipmaker Xilinx. The deal could be worth more than $30 billion, with the transaction coming together as early as next week.
Cannabis stocks are on the rise after Senator Kamala Harris vowed, on Wednesday, during the debate that the Biden administration would decriminalize marijuana at the federal level.
AT&T is planning thousands of job cuts in its Warner Media unit as it seeks to cut costs by up to 20%. Warner Media operates HBO, TBS, and other TV channels.