Big buy call on a burger joint you know there it is. Its yours mystery chart we start with a developing story on uber and lyft both stocks shooting higher after a Big Court Win in california deirdre bosa has more. Reporter until just a few hours ago it looked as those california riders and drivers would wake up tomorrow to a ride sharing blackout the court blinked, granting youtuber and ly e er uber and ln extension to continue to operate with drivers as independent contractors despite new regulation it is a win for uber and lyft in the shortterm it suggests that their threats to shut down service in california over the last week worked just hours before the extension, lyft told its drivers and riders it would be suspending services at midnight because the change would necessitate an overhaul of their entire Business Model and wasnt a switch they could flip overnight. In reality the writing has been on the wall for years. Uber and lyft used a tactic theyve used in other markets to avoi
Realize that this lawns full of weeds and dead grass and bugs and a golf ball okay, this is what the market is really about not this, but this see how the averages rallied again today, the dow inches up 47 points, s p advancing 2. 3 . The nasdaq gaining 1. 06 but almost 3 5ths of the stock in the s p 500 are actually down for the year were in high territory because of the other 2 5ths up a lot heres the real economy. The truth is, the weeds are more representative than the healthy patch of lawn, and in many ways its getting worse, not better, as the weeds begin, i think, to infect the nice part but when you look at the whole s p, you cant see the weeds you see, theyre obscured by Tech Companies with big gains. Who wants to talk about the other 291 stocks that are down for the year when you can focus on the incredible runs in amazon, microsoft, apple, facebook, alphabet its a lot more fun talking about tesla, up 378 than talking about gm or ford down 27 and 21 . Tesla has about 50,000 e
Nasdaq climbed, s p. 51 im sure you have some stocks. Maybe moving into something a little more placid like the industrials. At back my Old Hedge Fund we reviewed our positions three times a day. Thats right every day. Three times a day id have to defend them to karen cramer, our head trader. If my enthusiasm flagged at all, if there was a negative news story, a downgrade, a price target cut, or even if the stock was just heavy where sellers didnt seem to care what prices they sold their stock at, shed deem it vulnerable and kick it out. Whether i liked it or not. Sell sell sell sell sell it was brutal but necessary. We had to contain our losses they were looking over our shoulders. And when it came to dead money forget about it. Shed say lets boot it and come back at a better time, there are other stocks to own that can win. You see this attitude a lot from people that come on our network, dont you . Theyre running money aggressively they can vacillate constantly i did the same thing
New fears about north korea weighing on the markets. Three major averages down for a second straight day. The latest round of earnings, also a fear factor here, disney accounting for a good chunk of the dows losses in todays session. Investors meantime are looking for safety and theyre finding it in gold prices are sitting near two month highs. Thank you very much, melissa. I am Michelle Cabrera and heres what else is happening at this hour more than 85 of the companies of the s p 500 have now reported earnings, 73 have beaten estimates, 18 have missed fbi agents raided the home of former Trump Campaign chief Paul Manafort last, month comes amid the probe to influence the 2016 election. Ford is sending out several teams of investigators to Police Departments across the country theyre looking into concerns about Carbon Monoxide seeping into Law Enforcement vehicles. Michelle, thank you very much welcome eastbound, im tyler mathis and we again with the north korea threat and the rhetoric
For investors that techs big run may be running out of steam and fast. But we do begin with the world of daily Fantasy Sports under fire. The new York State Attorney general ordering two of the biggest players in the space to stop accepting bets. Mandy, whether or not you believe daily Fantasy Sports is gambling, Eric Schneiderman says it is and its the illegal variety. Now, as new york states top Law Enforcement official, his word carries a lot of weight and like you said, hes demanded that fan duel and draft kings stop taking wagers within the state. Now, this is the most Important Development in the daily fantasy saga so far just because according to sports economist Patrick Reich at washington louis st. Louis, new york based players make up 10 of this billion dollar industry. Snydermans argument is daily Fantasy Sports or dfs meets the states criteria for gambling and its not like traditional Fantasy Sports where there are weeks of commitment towards an end gold of winning your poo