Stocks were volatile today, but every major index finished the day in positive territory. In economic news, this is now officially the longest economic expansion in U.S. history with the expansion lasting 121 months so far.
Here’s a look at how the major indices finished the day:
Dow Jones Industrial +69 at 26,786
S&P 500 +9 2,973
NASDAQ +18 8,109
The 10 Year Treasury closed down 5 basis points yielding 1.97%
Oil prices closed down $2.79 ending at $59.30 a barrel
Gold prices closed up $26 ending at $1,415 an ounce
In the days’ stock news:
- Roku was downgraded by an analyst at RBC Capital Markets, citing a less attractive “risk-reward” outlook. Shares opened down over 3% this morning.
- Nordstrom was downgraded at UBS, with the firm slashing its price target to $33 per share from $65. The analysts said Nordstrom’s competitive position is weaker than in years past.
- Comerica was downgraded at Goldman Sachs who also cut their price target by $16 to $70 per share. The firm highlighted increasing pressure on margins as the Federal Reserve signals the possibility of lower rates
- KAR Auction Services shares are down 2% after Guggenheim downgraded the stock, citing “cyclical headwinds” and increasing competition