Oil prices rise; U.S. reportedly called off Iran strikes: Morning Brief
Friday, June 21, 2019
Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe
WHAT TO WATCH
Investors will get a pulse on the U.S. housing market ahead of the market open when existing-home sales data for May is released. Economists polled by Bloomberg expect existing-home sales to have risen to a seasonally-adjusted 5.30 million units, up from the 5.19 million units sold in April.
Meanwhile, CarMax (KMX) will be the only major S&P 500 (^GSPC) company to report earnings ahead of the market open.
TOP NEWS
Oil rises on U.S.-Iran tensions: 'Iran made a very big mistake!': The price of oil is rising on Friday as tensions continue to escalate between the U.S. and Iran. U.S. president, Donald Trump, ordered military strikes on Iran before changing his mind, according to the New York Times. It follows the downing of a US drone by Iranian forces on Thursday. [Yahoo Finance UK]
British Airways among airlines avoiding Iranian airspace over shootdown: British Airways, Dutch airline KLM, Australia’s Quantas Airways, Singapore Airlines, and Malaysia Airlines are among several carriers that have said they will avoid Iranian-controlled airspace following the shooting down of a US drone. On Thursday, the U.S. Federal Aviation Administration (FAA) issued an emergency order, banning U.S.-registered planes from flying in large swathes of the Strait of Hormuz and the Gulf of Oman. [Yahoo Finance UK]
Slack had the third largest initial trade in the US: Slack’s (WORK) direct listing landed in the ranks of some of the top-performing public debuts on record, by at least one measure. The opening trade size for shares of the workplace messaging software company totaled $1.75 billion as investors began snapping up the stock Thursday afternoon. The figure reflects the dollar value of shares trading hands at the stock’s opening price of $38.50, at an opening volume of 45.5 million shares. [Yahoo Finance]
Also: Slack's direct listing shows how much we’re obsessed with work [Yahoo Finance]
Canopy Growth reports more than four-fold rise in Q4 revenue: Canadian pot producer Canopy Growth Corp. (CGC) reported a more than four-fold jump in quarterly revenue on Thursday, benefiting from higher sales following Canada's legalization of recreational cannabis. [Reuters]
MORE FROM YAHOO FINANCE
Former FDIC chair: Trump 'should let Jay Powell do his job and he should do his'
Amazon is a political punching bag for everyone, from Trump to AOC
Discount retailer Grocery Outlet shares rise in public debut
Adopted AOC amendment will move $5 million from DEA to opioid abuse treatment
Senators want to roll back tax cuts to create jobs for long-term unemployed
Zion Williamson could sign with a Chinese shoe company
To ensure delivery of the Morning Brief to your inbox, please add newsletter@yahoofinance.com to your safe sender list.
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.
