10/08/2019

Stocks declined today as investors optimism dims on the upcoming U.S.- China trade talks. In economic news, U.S. producer prices declined 0.3% last month, its biggest decline in 8 months.

 

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

Dow Jones Industrial -314 at 26,164

S&P 500 -46 at 2,893

NASDAQ -133 at 7,824

 

The 10 Year Treasury closed down 1 basis point yielding 1.54%

Oil prices closed down $0.42 ending at $52.33 a barrel

Gold prices closed up $7 ending at $1,512 an ounce

 

In the days’ stock news:

  • Oracle is planning to hire 2,000 new workers as part of a plan to expand cloud computing services to more companies. Oracle is seeking to set up competition with Amazon Web Services and Microsoft.
  • Boeing is being sued by the union representing pilots at Southwest. The pilots claim Boeing rushed the now-grounded 737 MAX jet to market and misrepresented the aircraft as safe.
  • Microsoft was upgraded at Jefferies, which said the company is now a large diversified business with a clear path to double-digit revenue growth for the foreseeable future.
  • Celanese is considering a possible breakup of the company. The Texas-based chemical company is in the preliminary stages of a strategic review.