September 25, 2020

September 25, 2020

Stocks opened lower this morning, but managed to turn positive, with every major index finishing up over 1%. In economic news, durable goods orders increased 0.4% in August, much lower than the expected 1.5% increase.

 

Dow Jones +359 at 27,174

S&P 500 +52 at 3,298

NASDAQ +241 at 10,914

 

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

Oil prices closed down $0.20 ending at $40.11 a barrel

Gold prices closed down $10 ending at $1,859 an ounce

 

The days’ stock news:

  • Shares of AstraZeneca increased 2% after the European Union said it would grant partial immunity from any potential liability related to its Covid-19 vaccine candidate. The drug maker received this backing due to asking a lower price for the treatment and would only pay legal costs up to a certain threshold.
  • Cruise lines all moved over 7% higher after receiving an upgrade from Barclays, which said that although the call may be early, the risk/reward profile is attractive and anticipating that the CDC may make positive comments about the return to cruising.
  • Boeing supplier, Impresa, filed for bankruptcy protection, stemming from the grounding of Boeing’s 737 Max jet. The Max jet was a key source of revenue for the privately held company.

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