Tech rebound boosts Wall Street, Spotify debuts
Stocks pull higher as tech rebounds. Plus, Spotify’s finally here. We break down the drama during its big debut, and artist Royston Langdon of Spacehog joins us to discuss. And the President Trump goes after Amazon for the fourth time in a week. Is Trump’s latest obsession a big problem for the stock? Plus, Villanova won the tournament, and Oath CEO Tim Armstrong’s winning bracket is giving big bucks to the Children of Fallen Patriots charity. Catch The Final Round at 3:55 ET p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.
Winners and losers
Stocks in the red include Viacom as Reuters reports CBS will make an all-stock bid for Viacom below its current valuation, meaning there could a long, tough road of merger negotiations ahead; Celgene as the biotech name announced the departure of Scott Smith, its president and COO; and Longfin, with shares tumbling as the blockchain tech firm revealed it is under SEC investigation for failing to disclose important information surrounding its recent IPO, and several misstatements the company has made since then.
Stocks in the green include Fiat Chrysler as it reported sales jumping 14% in March, powered by a whopping 45% increase in Jeep sales; US Steel as Citi upgraded the steelmaker to Buy from Neutral; and Tesla, with shares getting a reprieve as the automaker reported production jumped 40% from the past quarter, with Model 3 output hitting nearly 10,000. Separately, CEO Elon Musk claims he is now sleeping at the factory to address production hiccups.
