08/06/2019

Stocks rebounded today, gaining back almost half of yesterdays losses.

In economic news, U.S. services growth slowed to weakest level since 2016, while China reportedly halted U.S. agricultural imports in retaliation for President Trump’s tariff increase.

 

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

Dow Jones Industrial + 311 at 26,029

S&P 500 +37 at 2,881

NASDAQ +107 at 7,833

 

The 10 Year Treasury closed flat yielding 1.73%

Oil prices closed down $1 ending at $53.69 a barrel

Gold prices closed up $8 ending at $1,484 an ounce

 

In the days’ stock news:

  • Take-Two Interactive reported a quarterly profit of 23 cents per share, well above estimates of 2 cents a share. The video-game maker also beat revenue estimates. Take-Two shares were up 8% today
  • Dean Foods lost 36 cents per share for its latest quarter, missing earnings estimates by 23 cents. Revenue was also short of estimates. Dean Foods shares declined 37%
  • Blackstone is taking a 10% to 15% stake in private-equity firm BC Partners for about $560 million, the deal could be announced as soon as today
  • Energizer reported a quarterly profit of 37 cents per share, 9 cents shy of estimates. Revenue also missed forecasts. Energizer said strength in its battery business is being offset by weakness in auto-care products.