08/07/2019

Stocks were volatile today with the S&P and NASDAQ finishing in positive territory.

In economic news, mortgage refinances have spiked 12% in the last week on a big rate drop, while the 30-year yield nears record low.

 

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

Dow Jones Industrial -23 at 26,007

S&P 500 +2 at 2,883

NASDAQ  +30 at 7,862

 

The 10 Year Treasury closed down 5 basis points yielding 1.68%

Oil prices closed down $1.40 ending at $52.25 a barrel

Gold prices closed up $24 ending at $1,508 an ounce

 

In the days’ stock news:

  • CVS reported quarterly profits of $1.89 per share, 20 cents above estimates. Revenue also came in above estimates. CVS shares moved 7% higher today.
  • Disney shares dropped 5% today after the company missed earnings estimates by 40 cents, reporting profits of $1.35 per share. Revenue also fell short of forecasts.
  • Walgreens said it plans to close 200 stores in the U.S. which will save about $1.5 billion annually by 2022
  • Hertz beat earnings estimates by 37 cents, reporting 74 cents per share. Revenue also beat estimates, rising to record highs.