10/21/2019

Stocks moved higher today, with every major index currently in positive territory. In economic news, U.S. housing starts have fallen from a 12-year high, but single-family home construction rose for a fourth straight month.

 

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

 

Dow Jones Industrial +56 at 26,827

S&P 500 +21 at 20.52

NASDAQ +73 at 8,162

 

The 10 Year Treasury up 4 basis points yielding 1.79%

Oil prices closed down $0.26 ending at $53.52 a barrel

Gold prices closed down $9 ending at $1,486 an ounce

 

In the days’ stock news:

  • Raymond James raised its price target on Apple to $280 per share, citing more favorable data on sales of the iPhone 11.
  • IBM was downgraded at UBS, which said it thinks it will be difficult for IBM to achieve sustainable mid-single digit revenue growth.
  • Verizon shares are down slightly after the company announced they are seeking a buyer for the HuffPost website.
  • Alexion Pharmaceuticals received FDA approval for a second use of its blood disorder drug Ultomiris.