Stocks closed modestly higher today as tech attempted to rebound from this week’s steep losses. FB shares closed up more than 3%, while AMZN gained nearly 2.5%. Apple and Alphabet also closed higher. These tech shares which make up the popular “FAANG” stocks have been under pressure with all of them down 20% from their 52 week highs and in bear market territory as of the close yesterday. In economic news, durable goods fell 4.4% in October, more than expected. It also marked the third decline in the past four months. Meanwhile, weekly jobless claims rose to a more than 4 month high last week. Here’s a look at how we closed the day on Wall Street:
DOW -1 at 24464
SP500 +8 at 2649
NASDAQ +63 at 6972
The 10 Year Treasury yield closed up 1 basis points to yield 3.06%
Oil prices closed +1.05 at 54.48 a barrel
Gold prices closed +6.10 at 1227.30 an ounce
The markets will be closed tomorrow in observance of Thanksgiving. We wish you and your families a healthy and happy holiday.