The Dow (^DJI) pierces 23,000 after strong earnings beats by UnitedHealth (UNH) and Johnson & Johnson (JNJ), but quickly retreats and settles into a low volume trading range for the balance of the day. Plus, Gary Cohn speaks to Yahoo Finance in Washington, D.C. The president’s chief economist tells us what’s open for negotiation and what’s not. And, why you should be nervous if you start hearing long SAT words on an earnings conference call. Plus, our prophecy for posterity — or as we usually call it, the look ahead — for everything you need to know about tomorrow with your favorite interlocutor. Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance’s Myles Udland and Dan Roberts.
Winners and losers
Stocks in the red today include mining company Freeport-MacMoRan (FCX) on a downgrade to “sell” by Deutsche Bank; Impax Laboratories (IPXL) after announcing an all-stock merger with Amneal Pharmaceuticals, which will create the fifth-largest U.S. generics business; and Goldman Sachs (GS), with shares of the investment bank sinking despite a big earnings beat, as a key business, fixed income trading, slowed by 23%.
Stocks on the move higher include United Health (UNH), as the largest U.S. health insurer posted an earnings beat and raised 2017 guidance; Spirit Airlines (SAVE) flying higher, after raising guidance for its third quarter revenue-per-available-seat-mile; and Biogen (BIIB), after the biotech firm got two upgrades to “buy” — one from Mizuho and one from Stifel Nicolaus.
Fickle fan base for American pro sports
A new Gallup poll finds that 57% of Americans identify as NFL fans — 10 percentage points less than in 2012. Over the same time period, NBA, NHL and pro soccer fans have risen. Is this decline in NFL fans directly related to the recent protests? Yahoo Finance’s Dan Roberts joins us to discuss, using original research.