Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average I:DJI and the S&P 500 undefined jumped to record closing highs.
- Tilray Inc. (TLRY) - Get Tilray, Inc. Report slumped more than 20% after taking investors on a crazy ride during the previous session.
- Amazon.com Inc. (AMZN) - Get Amazon.com, Inc. Report rose 1% following a report the company is considering a massive expansion of its cashierless stores.
Wall Street Overview
The Dow Jones Industrial Average I:DJI cruised to a record closing high Thursday, Sept. 20, the index's first since January. The S&P 500 undefined also set a record, as investors assessed the risk landscape amid rising bond yields and higher crude oil prices and looked past trade war worries.
The Dow has risen more than 300% since it bottomed out at 6,470 intraday on March 6, 2009 in the wake of the financial crisis that rocked Wall Street a decade ago.
The Dow Jones Industrial Average I:DJI rose 0.95%, or 251.22 points in to end at 26,656.98. The blue-chip index earlier struck a new intraday record high of 26,697.49. The S&P 500 undefined rose 0.78% to close at 2,930.75; its intraday was 2,934.80. The Nasdaq I:IXIC was up 0.98%.
Global oil prices slipped after West Texas Intermediate crude, the U.S. benchmark, earlier crossed $71 a barrel and contracts for Brent crude, the European benchmark, rose closer to $80, following data that showed domestic inventories fell to the lowest level in three-and-a-half years.
WTI crude was down 0.3% to $70.88 a barrel.
Comcast Corp. (CMCSA) - Get Comcast Corporation Class A Report , Walt Disney Co. (DIS) - Get Walt Disney Company Report and Twenty-First Century Fox Inc. (FOX) - Get Fox Corporation Class B Report will take their $35 billion battle to own Britain's Sky PLC into a one-day bidding contest that will determine the owner of Europe's most lucrative pay television broadcaster, regulators said Thursday.
Amazon.com Inc. (AMZN) - Get Amazon.com, Inc. Report is considering an aggressive plan to open as many as 3,000 new cashierless AmazonGo stores in the next few years, Bloomberg reported, citing people familiar with matter.
The online retailing giant, according to the report, is considering plans to have about 10 locations open by the end of 2018, about 50 locations in major metro areas in 2019, and then as many as 3,000 by 2021. The stock rose 1%.
General Electric Co. (GE) - Get General Electric Company Report fell 3.2% on Thursday after JPMorgan analysts cut their rating on the struggling conglomerate amid concerns that a key gas turbine launch would hit GE's earnings.
Lead analyst Stephen Tusa, who has a underweight rating on the stock, lowered his price target to $10 a share from $11 as he reiterated concerns for the company's power division.
Tilray Inc. (TLRY) - Get Tilray, Inc. Report fell 20.12% on Thursday after closing with a gain of more than 38% on Wednesday following an interview the cannabis company's CEO held with TheStreet's Jim Cramer on his "Mad Money" program on CNBC.
Brendan Kennedy touted his Canadian cannabis business as a smart hedge for the world's largest pharmaceutical companies.
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Darden Restaurants Inc. (DRI) - Get Darden Restaurants, Inc. Report , the parent of Olive Garden, posted fiscal first-quarter earnings of $1.32, ahead of estimates of $1.24. Same-store sales rose 3.3% in the period, beating forecasts of up 2.1%. The stock fell 1.2%.
Under Armour Inc. (UAA) - Get Under Armour, Inc. Class A Report said Thursday it was revising its outlook for adjusted earnings in 2018 higher but also said it was raising by $10 million the expected restructuring charges related to a 3% workforce reduction. The stock was up 6.6%.
In U.S. economic data, weekly jobless claims fell 3,000 last week, declining to the lowest level since November 1969.
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