5/06/2019

Stocks declined to begin the week, with every major index finishing in negative territory. In economic news, President Trump announced the U.S. will increase tariffs of 10% on $200 billion of Chinese goods to 25%, while treasuries increased, sending yields lower.

 

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

 

Dow Jones -66 at 26,438

S&P 500 -13 at 2,932

NASDAQ -40 at 8,123

 

The 10 Year Treasury closed down 3 basis points yielding 2.50%

Oil prices closed up $0.95 ending at $62.89 a barrel

Gold prices closed up $0.40 ending at $1,281 an ounce

 

In the days’ stock news:

  • Occidental Petroleum increased the cash portion of its $38 billion cash-and-stock bid for Anadarko, as it seeks to convince Anadarko to abandon its deal to be acquired by Chevron
  • Tesla’s bid for a tariff exemption was rejected by U.S. trade officials
  • Berkshire Hathaway reported operating profits of $5.56 billion during the first quarter, this is up from their profits of $5.29 billion in the first quarter of last year
  • IBM said the Justice Department has concluded its review of its proposed acquisition of Red HahHhthrthHat without imposing any conditions