At least the day was spent with the markets in the positive. It's the little things, right?
Stocks rose on Monday, Jan. 7, following Friday's rally that was fueled by much stronger-than-expected U.S. jobs data and dovish messages from the Federal Reserve.
At the close, the Dow Jones Industrial Average rose 98 points, or 0.42%, to 23,531, the S&P 500 rose 0.7%, and the Nasdaq was up 1.26%.
Part of the lift was due to the renewed prospects of a trade agreement between the U.S. and China.
Tesla's Breakin' Ground
You read that right.
The electric car maker officially began construction on Gigafactory 3, which will be based in China. According to TheStreet contributor Bret Kenwell, China is a very important move for Tesla (TSLA - Get Report) because it's home to the biggest electric car market in the world.
Tesla, according to CEO Elon Musk, hopes to finish the initial construction of Gigafactory 3 by the end of summer 2019 and to begin production of the Model 3 before 2019 is over.
Here's What You Need to Know About Pharma
Jim Cramer wrote about pharma in his daily column Monday, Jan. 7.
The founder of TheStreet is at JPMorgan's Healthcare conference for the week, so it's only fitting that he cover the sector.
Eli Lilly (LLY - Get Report) announced Monday morning that it plans to buy cancer drug company Loxo Oncology (LOXO) for $8 billion. The deal follows the Bristol-Myers Squibb's (BMY - Get Report) deal to buy Celgene (CELG - Get Report) , which also has a focus on oncology, for $74 billion last week.
"Pharma has figured it out. Big drug companies are looking at the prices of stocks that have been shelled and deciding "let's take advantage of all the chaos that comes from the ETFs and the worries about inflation and the downward push that comes from the macro funds and the machines, and lets do some buying," Cramer wrote.
General Electric Gets a Shock
TheStreet's Martin Baccardax reported that Bloomberg originally broke the news about the possible bid on all or part of GE's Capital Aviation Services. The fleet of aircraft is over 2,000 strong and it generated around $271 million in revenue in the third quarter.
General Electric is Real Money's Stock of the Day. When the markets closed, it was up over 6% to $8.74 a share.
Catch y'all later.