Stocks climb higher, gold tanks as Comey testifies on the Hill

Thu, Jun 8, 2017, 11:25 AM

Stocks (^DJI, ^GSPC, ^IXIC) are slightly higher at the midday mark as James Comey testifies on the Hill. The financial (XLF) sector is leading the way up while real estate (XLRE) and utilities (XLU) are still in the red. Alan Valdes, director of floor operations at Silverbear, joins us live from the New York Stock Exchange. To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance’s Rick Newman and Nicole Sinclair.

Today’s Midday Movers topics:

James Comey testifies on the Hill. Will the markets care or is it politics as usual?
The Nordstrom family wants to buy back their stores from the public. Is this the last gasp by brick-and-mortar?
A blind man recreates his wedding and, with the miracle of technology, sees his wife’s face.We’ll tell you all about these stories, and what the markets are up to today.

The US could give homeowners a $980 billion stimulus at no additional cost, 'Oracle of Wall Street' says
"As early as this summer, a proposed move could begin to unleash almost $1tn into consumers' wallets. By the autumn, it could be on its way to $2tn."
Business Insider
A 64-year-old 'peak boomer' worries his savings and Social Security won't be enough to retire: 'My biggest fear is finding myself at 75 standing at the door at Walmart.'
David Kirsch, 64, is hoping to live comfortably in retirement — but he isn't sure his savings and Social Security will cover his living expenses.
Business Insider
Suze Orman Calls The 4% Retirement Rule 'Very Dangerous' In Today's Challenging Economic Climate
Many Americans wonder how much money to withdraw from their retirement savings each year, and financial expert Suze Orman believes that the 4% retirement rule is no longer the answer. Orman, known for her blunt and hard-hitting financial advice, discussed why so many Americans are living paycheck to paycheck and her opinion on retirement savings during an interview with SecureSave Co-Founder Devin Miller for Moneywise Don't Miss: The average American couple has saved this much money for retireme
Benzinga
Berkshire pares huge Apple stake as cash, operating profit set records
Berkshire Hathaway significantly reduced its enormous stake in Apple in the first quarter, as Warren Buffett's conglomerate let its cash hoard swell to a record $189 billion. Buffett's company also posted a record operating profit exceeding $11 billion, as its insurance operations benefited from improved underwriting and higher income from investments as interest rates rose. The value of Berkshire's stake in Apple fell 22% to $135.4 billion as of March 31 from $174.3 billion at the end of 2023, even though the iPhone maker's share price fell just 11% in the quarter.
Reuters
DJT Stock Falls. SEC Charges Trump Media Auditing Firm With ‘Massive Fraud.’
The SEC charges the company’s auditing firm BF Borgers CPA and its owner Benjamin Borgers with ‘massive fraud.’
Barrons.com
Forget Altria: Could This Be the Safest Dividend Stock to Own?
Investors who buy Altria's stock for its dividend could be taking on some considerable risk.
Motley Fool
The CEO Who Hired His Wife, Gave His Dog a Title, and Brought Down a Bank
Vernon Hill’s Commerce Bancorp was about to open its first New York City branch in 2001 when his wife, Shirley, called wanting to know whether dogs could be allowed inside. Shirley Hill, also the branch designer, had been stopped from bringing the couple’s Yorkshire terrier, Sir Duffield, into other banks. Vernon Hill, the bank’s founder and chief executive, declared it “just another stupid bank rule” and launched a campaign to encourage dogs to visit Commerce.
The Wall Street Journal
4 Dividend Kings Poised for Growth, According to Analysts
Dividend Kings are an elite group of companies that have consistently increased their dividends for at least 50 consecutive years. These companies have demonstrated a remarkable ability to generate steady cash flows and reward shareholders with ...
Benzinga
Why I Just Bought More of This Ultra-High-Yield Dividend Stock
This energy stock is too good to resist.
Motley Fool
Billionaires Bill Gates and Warren Buffett Both Own This Stock -- and It's Trounced the S&P 500 Over the Long Run
This stock is clearly a favorite of both famous billionaires.
Motley Fool

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Stocks climb higher, gold tanks as Comey testifies on the Hill

Today’s Midday Movers topics:

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