To: Return to Sender who wrote (85349 ) 7/22/2020 5:25:51 PM From: Return to Sender 3 RecommendationsRecommended By
Read Replies (1) | Respond to Stocks close at highs in late-session pushDow +165.44 at 27005.84, Nasdaq +25.76 at 10706.21, S&P +18.72 at 3276.02briefing.com Microsoft (MSFT 211.75, +3.00, +1.4%) and Tesla (TSLA 1592.33, +23.97, +1.5%) padded gains in front of their earnings reports after the close.Pfizer (PFE 38.56, +1.87, +5.1%) and BioNTech (BNTX 104.17, +12.57, +13.7%) securing a vaccine supply agreement with the U.S. government for $1.95 billion upon FDA approval and Best Buy (BBY 97.36, +7.08, +7.8%) offering encouraging sales commentary. Texas Instruments (TXN 132.53, -2.95, -2.2%) falling 2% despite reporting upbeat earnings results and guidance. Wynn Resorts (WYNN 76.10, -3.09, -3.9%) furloughed some Las Vegas workers amid disappointing demand. Spotify (SPOT 289.62, +13.24, +4.8%) confirmed it reached a new multi-year global license agreement with Universal Music Group. Existing home sales surged 20.7% m/m in June to a seasonally adjusted annual rate of 4.72 million (Briefing.com consensus 4.70 million). That is the largest monthly increase on record, although the seasonally adjusted annual rate of existing home sales is still 18% lower than where it stood in February.The key takeaway from the report is that inventory of existing homes continues to be constrained. That is a pressure point that will feed higher prices; but it's also a reality that should bolster the prospects for new home demand. The FHFA Housing Price Index for July declined 0.3% following a revised 0.1% increase in June (from +0.2%). The weekly MBA Mortgage Applications Index increased 4.1% following a 5.1% increase in the prior week. Nasdaq Composite +19.3% YTD S&P 500 +1.4% YTD Dow Jones Industrial Average -5.4% YTD Russell 2000 -10.7% YTD Dow 27005.84 +165.44 (0.62 %) Nasdaq 10706.21 +25.76 (0.24 %) SP 500 3276.02 +18.72 (0.57 %) 10-yr Note +1/32 0.594 NYSE Adv 1737 Dec 1203 Vol 829.0 mln Nasdaq Adv 1475 Dec 1784 Vol 4.0 bln
Strong: Real Estate, Utilities, Materials Weak: Energy, Financials
-- Stocks close at highs in late-session push
Dow +124.06 at 26964.46, Nasdaq +8.06 at 10688.51, S&P +13.41 at 3270.71CNBC recently reported that Republican leadership is considering a $400/month in extended unemployment benefits through Dec. 31 in the next stimulus package.
