September 20, 2021

September 20, 2021

Stocks opened the week lower, with the DOW, S&P, and NASDAQ all finishing in negative territory. In economic news, the consumer sentiment index increased to 71, up 0.7 from the previous month.

 

Dow Jones -615 at 33,970

S&P 500 -75 at 4,358

NASDAQ -330 at 14,714

 

The 10 Year Treasury closed down 6 basis points yielding 1.31%

Oil prices closed down $1.20 ending at $70.77 a barrel

Gold prices closed up $12 ending at $1,761 an ounce

 

Corporate news:

 

  • Shares of AstraZeneca increased 5% after the United Kingdom-based pharmaceutical company announced that its breast cancer drug showed positive results in a phase 3 trial.

 

  • Pfizer said trials showed its Covid vaccine was safe and effective when used in children ages 5 to 11. Pfizer and partner BioNTech said they would submit the results for approval as soon as possible. Pfizer shares moved 1% higher today.

 

  • JPMorgan and Bank of America shares each dropped 3% as bond yields are declining amid fears of a slowdown.

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