September 16, 2020

September 16, 2020

Stocks finished the day mixed, with the DOW being the only major index to end in positive territory. In economic news, retail sales increased 0.6% in August, slightly lower than the expected 0.7%.

 

Dow Jones +38 at 28,032

S&P 500 -16 at 3,385

NASDAQ -140 at 11,050

 

The 10 Year Treasury closed up 1 basis point yielding 0.69%

Oil prices closed up $1.84 ending at $40.12 a barrel

Gold prices closed flat ending at $1,953 an ounce

 

The days’ stock news:

  • Shares of FedEx increased 6% after the shipping company beat earnings and revenue estimates. FedEx said its average daily package volume jumped 31% for its fiscal 1st
  • DraftKings announced a deal with the New York Giants, which will make the online betting app the exclusive operator of sports betting, iGaming, and daily fantasy sports. DraftKings shares moved 6% higher today.
  • Eastman Kodak shares increased 37% today after a law firm the company hired said the transactions made by its CEO around the time the company learned a $765 million government loan did not go against internal policies.

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