Tech plunges as the financials sector soars

Thu, Jun 29, 2017, 11:43 AM

Stocks (^DJI, ^GSPC, ^IXIC) are selling off at the midday mark, with the tech (XLK) and utilities (XLU) sectors the most in the red, and energy (XLE) and financials (XLF) the most in the green. 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, Jen Rogers is joined by Yahoo Finance’s Rick Newman and Nicole Sinclair, Yahoo Finance tech critic David Pogue, and Bill Smead, CEO of Smead Capital Management.

Today on Midday Movers, we’re talking about:

Banks pass the stress test—so is the Financial Crisis over?
Tech stocks plunge as financials soar
Blue Apron IPOs at $10 a share
Tax cuts are more likely if Obamacare repeal fails
Bill Smead: Why investors should focus on economic need, not just Amazon
David Pogue: What it was like to use the first iPhone 10 years ago
What’s next for the iPhone

Trump ‘offered to block electric car rollout’ as he asked oil bosses for $1bn
Donald Trump told oil industry executives he would dismantle Joe Biden’s pro-electric vehicle agenda as he asked for $1bn (£800m) to help return him to the White House, it has been claimed.
The Telegraph
A millennial who went to college in his 30s when his career stalled says his Bachelor's degree is 'worthless' and that he's been looking for a job for 3 years
A millennial went to college in his 30s when his career growth stalled. Now he's saddled with student debt and struggling to find a job.
Business Insider
Billionaire Bill Gates Has 51% of His Portfolio Invested in 2 Brilliant Stocks
The Bill and Melinda Gates Foundation Trust outperformed the S&P 500 by a wide margin over the past three years, in part because of these two stocks.
Motley Fool
Ask an Advisor: Can a Nursing Home Take Our IRA? We Have a $100K IRA and a Trust to Protect Our Assets
My wife and I are elderly. I have an individual retirement account (IRA) worth about $100,000, and we have a trust set up through our children to protect our assets. If one or both of us have to go into … Continue reading → The post Ask an Advisor: Can a Nursing Home ‘Take Our IRA?' My Wife and I Are Elderly. We Have a $100K IRA and a Trust to Protect Our Assets. appeared first on SmartAsset Blog.
SmartAsset
The U.S. Is Shelling Out $2.9 Billion Per Day In Interest And These ETFs Let You Get A Piece Of It
The U.S. national debt is a hot topic as the government continues to spend more than it earns. With the debt currently standing at a staggering $34 trillion, the interest payments alone are eating up a significant portion of the budget. In fact, the ...
Benzinga
A 63-year-old peak boomer said she 'can't even think about retiring' despite having a master's degree and working two jobs
Cathy, a 63-year-old clerical worker in Minnesota, fears she may never be able to fully retire, even though she's worked her entire life.
Business Insider
‘Seriously Underwater’ Home Mortgages Tick Up Across the US
(Bloomberg) -- Roughly one in 37 homes are now considered seriously underwater in the US and that share is much higher across a swath of southern states, according to data out Thursday.Most Read from BloombergMicrosoft’s Xbox Is Planning More Cuts After Studio ClosingsAmericans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t Track‘Seriously Underwater’ Home Mortgages Tick Up Across the USArm Slides as Tepid Outlook Fuels Concerns Over AI SlowdownNationally, 2.7% of homes carried loan balanc
Bloomberg
Morgan Stanley Predicts up to 110% Rally for These 2 ‘Strong Buy’ Stocks
Uncertainty is the word of the day, in reference to the near-term economic future. Sentiment will hinge on the inflation numbers due out next week. March’s figure rose to 3.5%, and April’s job numbers showed a marked slowing in the labor market; that combination has stoked fears of stagflation. But – corporate earnings from Q1 are beating expectations, and the stock market has taken a turn for the better with the S&P 500 closing just below 5,200 yesterday. Economic strategists are still optimist
TipRanks
How Much Cash Can A $300,000 Annuity Generate For Me Each Month?
Imagine having a reliable source of income you can count on throughout your retirement. That’s the promise of an annuity. These insurance products have been designed to turn your savings into a steady stream of monthly payments. They guarantee peace of mind and financial security in your golden years. Don't Miss: Are you rich? Here’s what Americans think you need to be considered wealthy. Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you. An
Benzinga
1 Magnificent Dividend Stock Down 25% to Buy and Hold Forever
A falling stock price has made Agree Realty an even more attractive passive-income investment.
Motley Fool

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Tech plunges as the financials sector soars

Today on Midday Movers, we’re talking about:

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