September 1, 2020

September 1, 2020

Stocks closed higher to begin the new month. In economic news, construction spending rose 1% in July vs. an expected drop of 0.7%.

Dow Jones finished  +216 at 28,645

S&P 500 finished +26 at 3,526

NASDAQ finished +164 at 11,939

 

The 10 Year Treasury closed down 1 basis point yielding 0.67%

Oil prices closed up $0.26 ending at $42.87 a barrel

Gold prices closed down $1.90 ending at $1,976 an ounce

 

In the days’ stock news:

 

  • Shares of Zoom Video closed up over 40% today after the video conferencing company said its revenue more than quadrupled in the fiscal second quarter compared to a year ago.
  • Tesla shares, which are up over 60% since the beginning of August, closed down more than 4% after the automaker announced a plan to offer $5 billion in new shares.
  • Eastman Kodak, whose stock has made dramatic moves up and down in recent weeks, closed up 22% today after the hedge fund D.E. Shaw disclosed a 5.2% stake in the company.

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