Stocks moved higher today as the Fed signaled rate cuts could be coming. The S&P crossed 3,000 for the first time ever, while the NASDAQ also hit all-times high.
Here’s a look at how the major indices finished the day:
Dow Jones Industrial +77 at 26,860
S&P 500 +13 at 2,993
NASDAQ +61 8,202
The 10 Year Treasury closed up 1 basis point yielding 2.06%
Oil prices closed up $2.30 ending at $60.03 a barrel
Gold prices closed up $19 ending at $1,419 an ounce
In the days’ stock news:
- Levi Strauss shares declined 12% today after the company reported a 17% drop in profit in the second quarter. Levi said it was hit by a strong dollar and higher marketing and online costs.
- Testa shares finished up more almost 4% after Bloomberg news reported Tesla employees were told to prepare for a production increase.
- Comcast’s shares moved higher today after the company was upgraded at Goldman Sachs, along with an increased price target from $44 to $54
- AT&T unveiled a new streaming service called HBO Max that will include programming from CNN, Cartoon Network, and Warner Bros