06/12/2019

Stocks declined today, with every major index finishing in negative territory. In economic news, U.S. consumer prices increased slightly in May, pointing to moderate inflation that together with a slowing economy could put pressure on the Fed to cut interest rates this year.

 

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

 

Dow Jones -40 at 26,004

S&P 500 -5 at 2,879

NASDAQ -30 at 7,792

 

The 10 Year Treasury closed down a 1 basis point yielding 2.12%

Oil prices closed down $2.27 ending at $51 a barrel

Gold prices closed up $5 ending at $1,336 an ounce

 

In the days’ stock news:

  • Dave and Buster’s Entertainment is down 20% today after missing earnings estimates and revenue forecasts, and lowering its full-year forecast
  • The Raytheon and United Technologies merger was put on hold after Bill ackman, who has a significant position in United Technologies, announced he wants the deal to be called off saying the deal makes no strategic sense
  • Mattel shares jumped 8% this morning after the company rejected a second takeover offer from MGA entertainment
  • At Tesla’s annual shareholder meeting, Elon Musk announced the company has a decent shot at a record quarter