Your Weekly Blip 8/14/20

Your Weekly Blip 8/14/20

The Dow ended the week on a positive note. It was not only up, but it finished the day with a strong close. For the day, the Dow was up 34 points, it was up 1.8% for the week, and closed at 27,931.
The markets continue to monitor the economy, and today, they were particularly interested in the release of the retail sales numbers. On average, sales continue to increase not only month over month, but year over year, and are showing improvement even in areas that have been hit the hardest. This, along with the improving labor market is a good sign. There is still a long way to go, but it’s nice to see things looking less bleak than they did back in April.
If you were an early investor in CureVac, you would’ve been popping the champagne bottles today. They went public with an initial share price of $16, and that immediately turned into $44, and a closing value of $55.90 for a nearly 250% daily gain. CureVac is a biopharmaceutical company that is developing treatments for various types of tumors as well as a vaccine for rabies. In addition to these, they are also working on a vaccine for COVID-19.

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