Stock market today July 15, 2020
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%)
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.”