dChan
Anonymous ID: 530e52 June 22, 2020, 1:23 p.m. No.9709293   🗄️.is đź”—kun   >>9440 >>9544 >>9752

Market Closing Numbers

 

Dow finishes above 26,000 as stocks rally on recovery hopes

 

U.S. stocks booked modest gains on Monday as investors largely overlooked the rising tally of coronavirus cases across the U.S., amid hopes that efforts to reopen the economy would continue to make progress. The Dow Jones Industrial Average DJIA, 0.59% advanced 152 points, or 0.6%, to end around 26,023, based on preliminary numbers. The Nasdaq Composite COMP, 1.11% gained 110 points, or 1.1%, to finish near 10,056. The S&P 500 SPX, 0.65% rose 20 points, or 0.7%, to 3,118. The day's gains were led by technology shares, propelling the Nasdaq above the 10,000 level. Even as 24 states showed an increasing trend in cases this past week, investors aren't expecting new lockdown measures to be put in place, allowing the U.S. recovery to truck on. In company news, shares of American Airlines Group Inc. AAL, -6.75% fell 6.7% after the air carrier announced Sunday that it would raise $3.5 billion in new financing.

https://www.marketwatch.com/story/dow-finishes-above-26000-as-stocks-rally-on-recovery-hopes-2020-06-22

 

U.S. home sales hit 9-1/2-year low; price growth cools

https://www.reuters.com/article/us-usa-economy/u-s-home-sales-hit-9-1-2-year-low-price-growth-cools-idUSKBN23T222

 

Kynikos Associates closed Hertz short bet right before bankruptcy -Chanos

Jim Chanos’ Kynikos Associates covered its long-held short position in Hertz Global Holdings Inc right before the company went bankrupt, Chanos said at the Bloomberg Invest Global conference on Monday.

 

The short seller, most famous for his bet against energy company Enron before its collapse in 2001, also said troubled payments company Wirecard AG was the largest position in Kynikos Associates’ global short accounts and global hedged accounts.

 

Chanos, founder and president of Kynikos Associates, said he remains short Tesla Inc.

 

Short sellers bet against a company by borrowing stock to sell, hoping to buy it back at a lower price before returning it, thus profiting from the decline.

https://www.reuters.com/article/usa-investment-chanos/kynikos-associates-closed-hertz-short-bet-right-before-bankruptcy-chanos-idUSL1N2DZ1I9

 

Gold price surges to 7.5-year high as coronavirus concerns mount

 

Got to $1765 earlier…

 

Gold prices rallied to a more than 7.5-year high on Monday as investors continued to buy the precious metal amid concerns over the strength of the economic recovery and that unprecedented stimulus would lead to inflation down the road. Gold has surged this year as investors have sought safety in the precious metal amid the economic fallout caused by the COVID-19 pandemic. Stay-at-home orders aimed at slowing the spread of the virus forced nonessential businesses to close their doors, leading to the sharpest economic contraction of the postwar era and unprecedented support from policymakers. In response to the economic slowdown, the Federal Reserve cut rates to near zero, embarked on open-ended asset purchases and introduced lending programs to support the flow of credit to small businesses and households.

 

The U.S. Congress, for its part, in March passed the $2.2 trillion CARES Act which extended $1,200 checks to most Americans, in addition to providing relief for health care providers and businesses.

 

Those policy actions are likely to support the precious metal, according to the Commodities Research team at Goldman Sachs, which last week raised its 12-month price target to $2,000 an ounce. Goldman isn’t alone in suggesting gold could top its previous all-time high of $1,888.70 that was reached on Aug. 22, 2011.

https://www.foxbusiness.com/markets/gold-price-surges-to-7-5-year-high

https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart

https://www.marketwatch.com/investing/index/dxy

https://finance.yahoo.com/quote/%5EIXIC?p=^IXIC