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Stock market today July 15, 2020

Stock market today

A higher close for the US stock market today, with gains for all major indices, and plenty of volatility for stocks. Nasdaq managed to close higher, earlier it was negative. Small-cap stocks today outperformed, the Russell 2000 index gained more than 3.5% or more than 50 points.

Stock market at the close today

S&P 500: 3,227.43,+29.91(+0.94%)
Dow 30: 26,876.84,+234.25(+0.88%)
Nasdaq: 10,550.49,+61.92(+0.59%)
Russell 2000: 1,483.77,+55.51(+3.89%)

Moderna stock set up the risk-on mood for investing

Moderna, Inc. (MRNA) stock closed higher with a stock price at the close of
80.22+5.18 (+6.90%). “Moderna Inc surged 9.2% after a small-scale study showed its experimental COVID-19 vaccine produced high levels of virus-killing antibodies.”

Stock market source: https://finance.yahoo.com/news/us-stocks-wall-st-climbs-184235938.html

The vaccine hopes sent travel stocks higher today, shares of American Airlines Group Inc. (AAL) gained more than 16% closing at 13.44+1.87 (+16.16%).

Shares of The Goldman Sachs Group, Inc. (GS) closed higher at 216.87+2.86 (+1.34%).

Goldman Sachs Earnings :

“Goldman Sachs Tops Q2 Earnings Forecast As Trading Revenues Surge
Goldman Sachs said its global markets revenues rose 93% to $7.18 billion, helping offset a 70% rise in loan loss provisions and pushing the group’s bottom line well ahead of Wall Street forecasts.

Goldman Sachs Group Inc.  (GS) – Get Report posted much better-than-expected second quarter earnings Wednesday as it followed Wall Street rivals with a surge in trading revenues linked to market volatility during the peak of the coronavirus pandemic.

Goldman said profits for the three months ending in June were pegged at $6.26 per share, up 7.7% from the same period last year and well ahead of the Street consensus forecast of $3.78 per share. Group revenues, Goldman said, surged 41% to $13 billion, smashing analysts’ estimates of a $9.75 billion tally.

Investment banking revenues, Goldman said, rose 36% to $2.66 billion, echoing the surge reported by U.S. rivals JPMorgan  (JPM) – Get Report and Citigroup  (C) – Get Report yesterday. Net revenues for its global markets division, meanwhile, nearly doubled from last year to $7.18 billion. Loan loss provisions, however, were also notably higher from last year, rising 70% to $1.59 billion.”

Stock market data: https://www.thestreet.com/investing/goldman-sachs-tops-q2-profit-forecast-trading-revenues-surge?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

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