A lower close today for the US stock market. Major stock indexes erased some moderate gains after the release of the FOMC minutes. At the close on August 19, 2020 the numbers for the US stock market were:
These are the latest stock market news for July 1, 2020.
“Dow Jones Industrial Average falls 77 points The Dow fell 77.91 points, or 0.30%, to close at 25,734.97. The S&P 500 advanced 0.50% to 3,115.86. The Nasdaq Composite gained 0.95% to end the day at 10,164.63. Stocks traded higher for most of the session amid positive news on a potential coronavirus vaccine.
Vaccine data lifts sentiment A study of a coronavirus vaccine candidate being developed by Pfizer and BioNTech showed the drug created neutralizing antibodies. The results were released online, but have not been reviewed by a medical journal yet. The company also said that, if the vaccine gets regulatory approval, it expects to make up to 100 million doses by year-end and “potentially” more than 1.2 billion by the end of 2021.
Pfizer jumps, Amazon and Netflix gain Pfizer shares jumped 3.18% on the vaccine data released Wednesday. Amazon and Netflix gained 4.35% and 6.72%, respectively.”
S&P 500: 3,115.86,+15.57(+0.50%) Dow 30: 25,734.97,-77.91(-0.30%) Nasdaq:v10,154.63,+95.86(+0.95%) Russell 2000: 1,432.83,-8.54(-0.59%)
Stock market volatility
The CBOE Volatility Index (VIX) closed lower at 28.62-1.81 (-5.95%).
FedEx Corporation (FDX) stock closed higher more than 11% at 156.66+16.44 (+11.72%).
FDX stock news
“For the fiscal 2020 fourth quarter ended May 31, the company reported revenue of $17.4 billion, down from $17.8 billion a year earlier. But the latest number easily topped FactSet’s analyst consensus of $16.4 billion.
Still, that wasn’t enough to create profits. FedEx suffered a loss of $334 million in the latest quarter, or $1.28 per share, shrinking from a loss of $1.97 billion, or $7.56 per share, a year ago. Analysts expected earnings per share of $1.33 for the latest quarter.
Adjusted EPS totaled $2.53 in the latest quarter, blowing away analysts’ prediction of $1.58.”
Latest stock market news for June 29, 2020. The US stock market closed higher ignoring the fears about the second wave of coronavirus outbreak. Dow Jones gained more than 580 points, S&P 500 rose more than 40 points.
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