06/11/2019

Stocks began strong but pulled back throughout the day, with every major index finishing roughly flat. In economic news, U.S. underlying producer prices increased in May, while U.S. treasury yields continue to rebound as global trade concerns ease.

 

Here’s a look at how the major indices finished the day:

 

Dow Jones -13 at 26,048

S&P 500 -1 at 2,885

NASDAQ -1 at 7,822

 

The 10 Year Treasury closed down a half of basis point yielding 2.14%

Oil prices closed up $0.05 ending at $53.32 a barrel

Gold prices closed up $1 ending at $1,330  an ounce

 

In the days’ stock news:

  • Shutterfly agreed to be bought by private-equity firm Apollo Global for $1.7 billion. Apollo is also buying online photo service, Snapfish for $300 million and plans to combine the two
  • Dollar Tree was upgraded and J.P. Morgan, which based this on good metrics and improvements being implemented at the discount retailer’s Family Dollar Tree
  • Wells Fargo was downgraded at Atlantic Equities, based on a decreased outlook for interest rates and increased competition for deposits
  • Broadcom announced they made a 2-year deal with Apple, agreeing to provide components for smartphones, tablets, and smart watches