Yahoo Finance Stocks struggle for gains as oil rebounds into bull market territory
Stocks (^DJI, ^GSPC, ^IXIC) struggle for gains as oil rebounds into bull market territory. Will markets continue to climb the wall of worry? Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance’s Jared Blikre.
Crude at 6-week highs, in bull territory
Oil jumped into bull market territory today, hitting a 6-week high, after bearish positions were at a record last week. How does a retail investor make sense of these moves?
Disney invests $1 billion in MLB spinoff, BAMTech
Live sports is big business, and Disney is upping its game with a $1 billion dollar investment in BAMTech, a company spun off from MLB Advanced Media. So how exactly did Major League Baseball’s tech arm grow so big that Disney had to buy a piece? Yahoo Finance’s Dan Roberts joins us to discuss.
Winners and losers
Stocks in the red today include Twitter after a downgrade by Evercore ISI; Shares of Icahn Enterprises, the Carl Icahn-controlled conglomerate, slipping after UBS downgraded the stock, citing deteriorating fundamentals; and lawnmower parts maker Briggs & Stratton shares are down after earnings and revenue fell short of estimates. The company blames the miss on cooler temperatures in North America and Europe.
Stocks ending the day in the green include data storage company NetApp on an earnings beat, Victoria Secret owner L Brands after earnings came in above estimates, and SunEdison Semiconductor. Shares of the silicon wafer maker are surging after it agreed to be acquired by GlobalWafers for $12 a share in cash, a 45% premium to its prior close.
Looking ahead
We’ll get the the Baker-Hughes rig count of active and operating oil and gas rigs in the US. Last week we saw the figure rise to 481.
And we’ll get another look at the impact of Brexit, with the UK’s public sector finance report. Investors will be watching corporation tax returns, which reflect expected earnings, for an indication of the referendum’s effect.
Finally, Pokemon Go fans rejoice! The Pokemon World Championships begin in San Francisco, with around 3,000 players competing for a piece of the $500,000 combined prize pool.
