Oil prices extend rally after OPEC deal, stocks search for direction
Robert Thummel, portfolio manager at Tortoise Capital Advisors, which has $15 billion in assets under management, explains to Yahoo Finance’s Alexis Christoforous in the video above why he expects oil prices to hover around $50-$60 a barrel over the next couple of years.
The road ahead for stocks
In November, Donald Trump’s surprise victory in the presidential election sparked a rally leading to several stock market records. The Dow jumped more than 5% last month, its best performance since March. And the Russell 2000 index of small company stocks soared 11%. What will propel stocks higher under a Trump administration or should investors prepare for a correction?
Stocks to watch
Dollar General (DG) shares fell in early trading. The discount retailer delivering a miss on both its top and bottom lines for the quarter ending October 28 due to a surprise drop in same-store sales. The company said lower grocery prices and a reduction of food stamp coverage in several states contributed to the decline.
Land’s End (LE) stock sank this morning. The retailer which was spun off by Sears a couple of years ago continues to struggle. Land’s End posted a wider-than-expected loss for the third quarter as sales fell almost 7% from a year ago.
Related: Dollar General falls, Land’s End sinks, Deere gets upgraded
Obama, Google and Cuba
There’s a report saying Google (GOOGL) and GE (GE) will likely announce deals to operate in Cuba in coming weeks. The Wall Street Journal is reporting the Obama administration is pressing Cuba to complete deals with the companies before Donald Trump takes office. Norwegian Cruise lines (NCLH) and two other cruise lines are also expected to announce they’re starting service to Cuba. What might Trump mean for future deals?
Fitbit, Pebble deal talk
Fitbit (FIT) is reportedly planning to buy smartwatch maker Pebble. The Financial Times says Fitbit’s main interest is in Pebble’s software platform, which has one of the largest app catalogs of any wearable device and can be paired with both iPhones and Android devices. The companies are not commenting. Will this help revive Fitbit’s sagging sales?
