08/05/02019

Stocks moved lower to begin the week after China retaliated to President Trump’s announcement of imposing more tariffs on Chinses goods in September.

 

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

Dow Jones Industrial – 767 at 25,717

S&P 500 -87 at 2,844

NASDAQ -278 at 7,726

 

The 10 Year Treasury closed down 12 basis points yielding 1.73%

Oil prices closed down $0.87 ending at $54.78 a barrel

Gold prices closed up $16.50 ending at $1,474 an ounce

 

In the days’ stock news:

  • Tyson Foods beat earnings estimates by 5 cents, however the company missed revenue forecasts due to pressure of increased hog costs. Tyson’s stock moved 5% higher today
  • Uber announced it is unlikely to be successful in its attempt to get a new five-year license from London’s transport regulator. It is expecting another short-term license of less than 2 year. Uber share finished the day down 3%
  • Target was upgraded at Deutsche Bank, which stated Target is on a profitable growth pace that can be sustained and that the stock is attractively valued
  • Fox announced it will be buying online finance broker Credible Labs for $397 million in cash, as the broadcasting company searches for new sources of growth after selling film and TV assets to Walt Disney earlier this year.