September 24, 2020

September 24, 2020

Stocks traded choppy today but ended with the major indices in positive territory. The Labor Department’s weekly jobless claims report showed that another 870,000 workers filed new unemployment claims, slightly above Wall Street’s estimates.

 

Dow Jones finished +52 at 26,815

S&P 500 finished +10 at 3,246

NASDAQ finished +39 at 10,672

 

The 10 Year Treasury closed down 1 basis point yielding 0.66%

Oil prices closed up $0.31 ending at $40.24 a barrel

Gold prices closed up $4.40 ending at $1,872 an ounce

 

In the days’ stock news:

 

  • Carmax stock dropped more than 10% despite beating Wall Street expectations for earnings and revenue for the company’s fiscal second quarter. Carmax did report a lower average selling price for used cars. The stock was still up about 100% from its March lows.
  • Delta Air Lines, American Airlines, United Airlines — Shares of the major U.S. airlines fell today as investors struggled with a lack of fiscal stimulus and an uptick in Covid-19 cases.

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