September 14, 2020

September 14, 2020

The markets opened higher to begin the week as stocks try and gain back the losses from last week. In economic news, jobless claims were 884,000 last week, slightly higher than expected.

 

Dow Jones finished +327 at 27,993

S&P 500 finished +42 at 3,383

NASDAQ finished +203 at 11,056

 

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

Oil prices closed down $0.03 ending at $37.30 a barrel

Gold prices closed up $19.20 ending at $1,967 an ounce

 

In the days’ stock news:

 

  • Shares of Nvidia closed up more than 5% after the company announced it is buying fellow chipmaker Arm holding from Softbank for $40 billion, which Nvidia will finance through a combination of cash and common stock.
  • Oracle shares finished up more than 4% after ByteDance chose the company as its U.S. technology partner, rejecting Microsoft’s bid to buy TikTok’s U.S. operations.
  • Nikola is facing fraud allegations from the short seller, Hindenburg Research. Nikola says the allegations are false and misleading, and designed to manipulate the market to profit from the stock declining.

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