08/21/2019

Stocks advanced today, with every major index ending in positive territory. In economic news, existing home sales see first year-over-year increase in 17 months.

 

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

Dow Jones Industrial +240 at 26,202

S&P 500 +24 at 2,924

NASDAQ +72 at 8,020

 

The 10 Year Treasury closed up 1 basis point yielding 1.57%

Oil prices closed down $0.55 ending at $55.79 a barrel

Gold prices closed down $4 ending at $1,512 an ounce

 

In the days’ stock news:

  • Target shares increased over 20% today after the retailer posted quarterly profits of $1.82 per share, 20 cents above estimates. Revenues and comparable-store sales were also higher than forecasts.
  • Alibaba announced it is delaying a planned $15 billion Hong Kong IPO. The decision by china’s e-commerce giant comes amid the growing political unrest in Hong Kong.
  • Cardinal Health said its business could be impacted by ongoing opioid-related lawsuits. Cardinal and other wholesale pharmaceutical distributors have been named in about 2,500 lawsuits
  • Lowe’s beat earnings estimates by 14 cents per share. Revenue also beat forecasts, and store sales rose by 2.3% vs. 1.9% expected