08/28/2019

Stocks began the day down but recovered throughout the day, with every major index finishing in positive territory. In economic news, the U.S. 30-year bond yield has fallen to a record low as global recession fears grow.

 

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

Dow Jones Industrial +257 at 26,036

S&P 500 +19 at 2,887

NASDAQ +30 at 7,856

 

The 10 Year Treasury closed down 2 basis points yielding 1.46%

Oil prices closed up $0.97 ending at $55.90 a barrel

Gold prices closed down $3 ending at $1,548 an ounce

 

In the days’ stock news:

  • Movado shares decreased 15% today after the watch maker missed earnings estimates by 14 cents. Revenue also missed forecasts, and the company cut its full-year outlook, citing category challenges
  • Deutsche Bank is recommending investors to buy shares of JetBlue, saying the 15% pullback over the past 3 weeks provides an attractive entry point. JetBlue shares increased over 1% today
  • Hershey is buying nutrition bar maker ONE Brands in a deal worth about $325 million
  • Papa John’s was upgraded at Stifel Nicolaus, which points to the naming of former Arby’s President Rob Lynch as its new CEO. Stifel also raised its price target to $60 per share from $42