5/13/2019

 

Stocks started off the week down, every major index finishing in negative territory. In economic news, China announced they will place higher tariffs on $60 billion worth of U.S. imports, starting June 1st, while U.S. weekly jobless claims fell less than expected.

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

 

Dow Jones -617 at 25,324

S&P 500 -69 at 2,811

NASDAQ -269 7,647

 

The 10 Year Treasury closed down 5 basis points yielding 2.40%

Oil prices closed down $0.65 ending at $61.01 a barrel

Gold prices closed up $13 ending at $1,300 an ounce

 

In the days’ stock news:

  • Teva Pharmaceuticals is among 20 drug companies facing a lawsuit by U.S. states accusing them of scheming to inflate drug prices
  • Uber is down roughly 15% since the company had their IPO last Friday
  • Merck was upgraded at Atlantic Equities, with the firm citing several positive factors for the drug company including valuation and the ability for its new products to overcome patent headwinds
  • Weatherford International plans to file for Chapter 11 bankruptcy protections