Stocks drop on tax plan report
Stocks dropping midday as the tax reform may be gradual, and Mueller lands three big punches in the Russia probe. Plus – Russia risk gets real with Mueller landing 3 indictments. Is the market at risk now too? And – Facebook, Alphabet, Twitter head to hill. Is Washington a real threat to the big three in social media? Catch The Final Round at 3:55 p.m. ET with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks in the red today include GM as Goldman downgraded shares to ‘sell’ citing valuation and possible drop in earnings next year, Merck as the drugmaker pulled its European application for Keytruda, a lung cancer treatment, and Sprint – shares taking a tumble as Nikkei reported Softbank, Sprint’s owner, is planning to call Sprint’s proposed merger with T-Mobile.
Stocks in the green today include Strayer as the for-profit education company will merge with rival Capella Education, CalAtlantic Group as Lennar will buy the rival homemaker for $9.3 billion including debt, and Apple – shares seeing a nice lift as early indications show demand for the iPhone 10 is strong. Delivery estimates for the phone have pushed out to 5-6 weeks on Apple’s website.
Breaking down the ETF game
Global X Funds has more than 50 ETFs and $7.2 Billion under management. Bruno del Ama the company’s CEO, is here with more on what’s driving growth and returns.
