September 28, 2020

September 28, 2020

Stocks moved higher today, with every major index finishing up over 1%. In economic news, there were 1.01 million new home sold in August, more than the expected 900,000.

 

Dow Jones +410 at 27,584

S&P 500 +53 at 3,352

NASDAQ +204 at 11,118

 

The 10 Year Treasury closed flat yielding 0.66%

Oil prices closed up $0.31 ending at $40.56 a barrel

Gold prices closed up $19 ending at $1,877 an ounce

 

The days’ stock news:

  • Shares of Chevron increased 3% after the company was upgraded by an analyst at Bank of America, who noted the company’s free cash flow can support a 34% increase in the fair value price.
  • Caesar’s Entertainment bought the London-based sports betting company, William Hill, for $2.9 billion pounds in cash. Caesar shares moved 2% higher today.
  • Pinterest shares moved 3% higher after Guggenheim gave the social media company a buy rating and a $48-per-share price target. This target implies about a 20% upside from the stock’s current price.

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