07/01/2019

Stocks moved higher to begin the week with the S&P hitting record highs. In economic news, U.S. Treasury yields are increasing after the US-China truce, while OPEC agreed to extend current production by 9 months.

 

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

 

Dow Jones Industrial +117 at 26,717

S&P 500 +23 at 2,964

NASDAQ +85 at 8,091

 

The 10 Year Treasury closed up 3 basis points yielding 2.03%

Oil prices closed up $0.70 ending at $59.17 a barrel

Gold prices closed down $27 ending at $1,387 an ounce

 

In the days’ stock news:

  • Carnival was downgraded at Berenberg. The firm also slashed its price target by $12 to $48 a share. This downgrade is due to expectations of slowed growth through 2020
  • Micron Technology shares increased roughly 4% today after President Trump and President Xi both agreed to not impose additional tariffs on each other’s goods
  • Wynn Resorts and Las Vegas Sands shares both moved higher today after the gaming authority reported gambling revenues rose more than expected in June
  • Biogen shares went up today after the company reported positive results for its spinal muscular atrophy drug