Every day when the stock market closes we update our clients and subscribers about the important or interesting things that moved the stock market and your retirement investments. We leave the opinion out…mostly. Our goal is to educate briefly on what moved the stock markets, what may be coming up, and how your investments, or retirement portfolio may have been impacted by the day’s news.
Here’s a look at what investors were focused on today:
The markets were mixed today, mostly supported by tech names that are benefiting from the At&t (NYSE: T), Time Warner (NYSE: TWX) approval. The Dow 30 was lower by 24 on the day supported by Disney (NYSE: DIS) and Verizon (NYSE: VZ). The S&P 500 was higher by 7 and the Nasdaq 100 was the leader of the day, gaining 65 thanks to names like Netflix (NASDAQ: NFLX) which soared to new highs yet again.
Twenty First Century Fox (NASDAQ: FOXA) continued to dominate the headlines today as Comcast announced a bid of billion to buy most of the company. Disney (NYSE: DIS) has already offered to buy the same assets but at .4 billion. Comcast’s bid even agrees to pay the .5 billion breakup fee should they accept. Shares of Fox shot to highs once again and are now higher by over 15% for the month of June.
Financials (NYSE: XLF) were lower on the day day as investors focused on the news from the European Central Bank that they would hold off on raising rates until next year. While the US continues to raise rates, the delay from the ECB has hurt financial stocks with exposure overseas like JP Morgan (NYSE: JPM, and Goldman Sachs (NYSE: GS) which were in the red today. The move by the ECB also helped push US Treasuries higher on the day as well.
Other stocks in the news included Tesla (NASDAQ: TSLA) which popped another 3.5% on news of CEO, Elon Musk buying another million of his own shares following the job cuts announced earlier this week. There was also news out of Chicago that they selected Musk’s other company “The Boring Company” to build a high speed transit system from O’Hare Airport to downtown Chicago. It will be an underground system that will move passengers from the Loop to O’Hare in 12 minutes.
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Business Affairs 📧Carolyn@JazzWealth.com
Tech stocks lead the Nasdaq 100 to all time highs.