Maryland, Louisiana and South Dakota vote to legalize sports betting

Yahoo Finance's Julie Hyman weighs in what's moving markets.

Video Transcript

MYLES UDLAND: Let's go over to Julie Hyman for a quick look at some stocks that are on the move. And yes, Julie, there are some stocks on the move today. All we're talking about is the election. But indeed, some stories out there.

JULIE HYMAN: Yeah. Although some of the stories are related to the election, I have to say, some of the big moves that we're seeing. So I wanted to pinpoint some of those. We are watching the sports gaming, sports betting stocks here this morning. And that's because there were votes in three states, Maryland, Louisiana, and South Dakota, on various degrees of legalizing forms of sports betting. And so we're seeing stocks like DraftKings, Penn National Gaming that are trading higher as a result of those votes, much as we have been watching other sectors on specific propositions, Uber and Lyft, for example.

And then the other group that I've been watching closely has been the solar stocks. Because these are stocks that were sort of rallying into the election on the thought that if there was a blue wave that we would be seeing some kind of measures put into place that would benefit these companies. They are falling back, by and large, in today's session. First Solar, Sunrun, Sunpower all are declining.

I mentioned before, and I want to mention again, today is the official withdrawal of the United States from the Paris Climate Agreement as well. Although if you look at polling numbers, which is a phrase I should never say ever again, but a broad majority of Americans do support some sort of action on climate change. I guess the specifics of what that action looks like does differ. But it'll be interesting to watch some of those renewable stocks going forward, based on what kind of action we may or may not see from this next Congress.