LIVE – Floor of the NYSE! July 14, 2017 Financial News – Business News – Stock News – Market News



Watch Us LIVE from the Floor of NYSE! July 14, 2017 Financial News – Business News – Stock News – Market News – Stock Exchange

CLICK HERE➡ ➡

Business News – Financial News – Stock News — New York Stock Exchange — Market News 2017

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2017

On Monday, there wasn’t any major economic news as investors awaited upcoming earnings season starting on Friday. 10-year Treasuries yielded 2.37%, up 23 basis points over the past two weeks and U.S. crude oil settled at $44.40 a barrel. Gold closed at $1,213 an ounce.

On Tuesday, the JOLTS job openings report for May fell 5% to 5.67 million, however, the big news was the release of emails by Donald Trump Jr. showing he had a meeting with a Russian lawyer claiming to have sensitive information incriminating Hillary Clinton. The email also implied the information was obtained from the Russian government. The Dow Industrials fell sharply on the news, but then rebounded to end the day unchanged.

On Wednesday, the EIA petroleum status report for the week ending July 7th declined 7.6 million barrels and the Federal Reserve released its Beige Book summarizing economic conditions. Wages, consumer spending and economic growth are still rising, but are leveling off. The report noted that the labor market is tight for both skilled and unskilled labor. Fed Chair Janet Yellen also gave testimony to Congress, affirming that rate increases and balance sheet reductions would be gradual, and that interest rates don’t have to increase much more.

On Thursday, jobless claims for the week ending July 8th fell 3,000 to 247,000 and the producer price index for June rose .1%. The Dow Industrials closed up slightly and at a record high.

On Friday, the consumer price index for June remained unchanged, while retail sales for June declined .2%, on top of the prior month’s .1% decline. Markets opened slightly higher on positive earnings reported by large banks. Now let’s take a look at some stocks.

Private equity firm, Apollo Global Management LLC has announced that it has agreed to acquire ClubCorp Holdings, Inc. (NYSE: MYCC) The buyout has a price tag of $1.1 billion as Apollo said it will pay $17.12 per share in cash for ClubCorp, a 31% premium over its closing price on Friday. ClubCorp opened above $17 a share on Monday morning.

Shares of Amicus Therapeutics, Inc. (NASDAQ: FOLD) surged 40% in active premarket trading Tuesday after the biotechnology company said the Food and Drug Administration cleared the company to submit a new drug application for its Fabry disease treatment. Amicus says that the FDA reversed its earlier decision, and that there is a clear path to approval. Shares reached a high of $14.70 early Tuesday morning.

NRG Energy, Inc. (NYSE: NRG) announced Wednesday morning that it has received unanimous approval for its transformation plan from its board. The company said it expects to raise as much as $4 billion through asset sales and slash debt by $13 billion, sending its shares surging 21% to a near two-year high.

Target Corp. (NYSE: TGT) shares rose more than 3% on Thursday after the company boosted its second-quarter earnings guidance due to increased customer traffic and sales trends. Target expects second quarter adjusted earnings to be above the high end of its previous guidance range of $0.95 to $1.15.

Uber has announced a partnership with Yandex N.V. (NASDAQ: YNDX), the google of Russia, to create a new entity called Newco. Newco will offer ride-sharing to Eastern European cities. The deal is valued at $3.7 billion with Yandex being the lead partner holding a 59.3% stake in the company while Uber owns 36.6%. Shares of Yandex rose to over $33.50 on premarket trading Thursday morning.

© 2011 Financial Buzz. All rights reserved. No portion of FinancialBuzz.com may be duplicated, redistributed or manipulated in any form without our consent, violators will be prosecuted to the full extent of the law.

source