Stock market today October 1, 2020
October 1, 2020
Stock market today
The US stock market closed higher in the first trading session of October 2020. Dow Jones closed flat, up 35 points, small-cap stocks outperformed. S&P 500 gained about 18 points. The closing numbers for the US stock market today:
S&P 500: 3,380.80,+17.80(+0.53%)
Dow 30: 27,816.90,+35.20(+0.13%)
Russell 2000: 1,531.20,+23.51(+1.56%)
Stock market news
“The economic situation at the hands of the pandemic remains dire. Airlines American Airlines (AAL) and United Airlines Holdings (UAL) are moving forward with a collective 32,000 job cuts after contingencies tied to federal coronavirus relief aid they received earlier this year expired on Wednesday.
And a host of companies across industries announced new forthcoming job cuts this week, indicating that the historic workforce reductions taking place earlier this year amid the pandemic had not finished yet. Disney (DIS) said Tuesday it would be cutting 28,000 workers across its resort business, and insurance giant Allstate (ALL) on Wednesday announced an about 8% workforce reduction impacting some 3,800 jobs. Goldman Sachs (GS) is also reportedly looking to cut about 400 jobs, Bloomberg reported Wednesday, and the oil major Shell (RDS-B) announced plans to cut up to 9,000 jobs by 2022.
The labor market reports Thursday and Friday did not and will not capture these planned layoffs. The Labor Department’s weekly jobless claims report Thursday morning showed that another 837,000 people filed first-time unemployment insurance claims for the week ended Sept. 26.
That was below consensus forecasts of 850,000 and a marginal improvement from the previous week’s 870,000 — but the fifth straight week that new claims totaled fewer than 1 million. Meanwhile, Friday’s monthly jobs report – the last before the election – is expected to show a fifth straight month of net payroll gains, with consensus economists looking for 868,000 jobs to have come back in September.”
Stocks that moved today, were trending stocks:
Bed Bath & Beyond Inc. (BBBY): 18.75+3.77 (+25.13%)
Solid Biosciences Inc. (SLDB): 3.4600+1.4300 (+70.44%)
Pinterest, Inc. (PINS): 44.53+3.02 (+7.28%)
Etsy, Inc. (ETSY): 131.69+10.06 (+8.27%)
Carvana Co. (CVNA): 238.10+15.04 (+6.74%)
All stock quotes, stock prices are at the close of the stock market today.