Wall Street is finally seeing green arrows after last week's slump. All three major averages (^DJI, ^GSPC, ^IXIC) were up more than 1% in early trading following a rally in global markets after the latest polls showed a big swing in voter sentiment against Britain exiting the European Union.
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Walt Disney (DIS) shares are up slightly after "Finding Dory" made a big splash over the weekend. The Pixar Animation Studios sequel raked in an estimated $136.2 million dollars in North America, setting a box-office record for an animated film in its weekend debut.
Anthem (ANTM) and Cigna (CI) shares are on investors' radars. The Wall Street Journal reported that antitrust regulators have expressed concerns about the proposed $48 billion dollar merger and aren't sure the two health insurers can offer concessions that would fully preserve competition in the industry.
Costco (COST) customers can leave home without their Amex (AXP) cards. The box store chain is switching to accepting only Visa (V) starting this morning.
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Federal Mogul (FDML) is in the spotlight after Carl Icahn's Icahn Enterprises disclosed in an SEC filing that it raised its bid to buy the auto parts maker by a dollar to $8 dollars a share.
Facebook (FB) shareholders get set to decide if CEO Mark Zuckerberg will keep majority voting control—even if he's no longer at the helm in the future—at their annual meeting today. The market is also watching to see whether Zuck will let controversial board member Peter Thiel keep his seat after bankrolling Hulk Hogan's lawsuit against Gawker.
Gun control vote
The Senate is getting ready to vote on four gun control measures. The amendments would improve or expand background checks and make it harder for anyone to buy a gun who is on the terrorist watch list. A Reuters poll found that 71% of Americans favor at least moderate regulations and restrictions on gun sales. That’s up from 60% as of two years ago.
Big blow to India’s economic policy
India’s Central Bank Governor Raghuram Rajan is stepping down in September. Rajan is not only credited for turning India’s economy around and making it successful, he is also a highly respected member of the global central banking community. No word on who will succeed him.
Housing headache
Real estate is bouncing back after the housing bubble burst ten years ago. But now renters are struggling, while homeowners are thriving, according to analysis by The Associated Press. Homeowners are benefiting from growing equity and reduced payments from ultra-low rates. Unfortunately, renters are dealing with surging costs, stagnant pay and rising home values.
Historical comeback
LeBron James delivered on his promise, leading the Cavaliers to the NBA title. James, who was also named the unanimous MVP, led the Cleveland Cavaliers to a 93 to 89 victory in game seven against the Golden State Warriors. The Cavaliers are the first team in NBA history to come back from a three-to-one deficit to win the NBA Finals.
