July 2, 2020
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.”
Stock market close on July 1, 2020
S&P 500: 3,115.86,+15.57(+0.50%)
Dow 30: 25,734.97,-77.91(-0.30%)
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.”
Stock market source: https://www.thestreet.com/investing/fedex-stronger-than-expected-revenue-adjusted-profi
FDX stock chart
Liminal BioSciences Inc. (LMNL): 22.79,+ 11.99 +111.02%
89bio Inc. (ETNB): 28.17 +8.24 +41.34%
Akero Therapeutics Inc. (AKRO): 33.37 +8.45 +33.91%
Polar Power Inc. (POLA): 3.13, -1.83 -36.90%
Inovio Pharmaceuticals Inc. (INO): 19.73, -7.22 -26.79%
CPS Technologies Corp. (CPSH): 1.82, -0.60 -24.79%
Most active stocks
Workhorse Group Inc. (WKHS): 19.18,+ 1.79 +10.29%
General Electric Co. (GE): 6.74, -0.09 -1.32%
American Airlines Group Inc. (AAL): 12.81, -0.26 -1.99%
Stock market source: https://www.wsj.com/market-data/stocks
Stock Market, U.S. Sectors & Industries Performance
The Real Estate sector was the best performing sector +2.57%, the Energy sector was the worst-performing sector -2.49%.
Stock market news, economic news
The ADP National Employment Report came in at 2369K, lower than the forecast of 3000K, but still being positive for a second consecutive month.
Stock market update
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