September 2, 2020

September 2, 2020

Stocks rose today continuing a strong start to September for the market as traders took profits out of high-flying names like Apple and Tesla and snapped up shares in more beaten-down parts of the market.

Dow Jones finished +455 at 29,100

S&P 500 finished +54 at 3,580

NASDAQ finished +117 at 12,056

 

The 10 Year Treasury closed down 2 basis points yielding 0.65%

Oil prices closed down $1.23 ending at $41.53 a barrel

Gold prices closed down $30 ending at $1,948 an ounce

 

In the days’ stock news:

 

  • Peloton the exercise equipment maker jumped more than 8% after JPMorgan called the company a “top pick.” The firm raised its price target on the stock to a Street high of $105 based on ongoing demand. Shares are up more than 200% this year.
  • Shares of DraftKings closed up more than 8% after the sports gambling company announced that basketball great Michael Jordan will join the company’s board as an advisor.

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