Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average
rose Monday for a third-straight session.
- Leading the Dow higher on Monday were Caterpillar Inc. (CAT) , JPMorgan Chase & Co. (JPM) , Goldman Sachs Group Inc. (GS) and Walmart Inc. (WMT) .
- Groupon Inc. (GRPN) rose 10% after a report said it was looking for a buyer.
Wall Street Overview
Stocks on Wall Street logged a third straight day of gains Monday, July 9, as investor sentiment remained buoyant after the U.S. jobs report showed solid growth with little underlying inflation pressure.
The Dow Jones Industrial Average
The 213,000 jobs added to U.S. payrolls in June and slower-than-expected annual wage growth of 2.7% could set the table for a strong summer performance for U.S. markets as investors trimmed bets on faster rate hikes from the Federal Reserve and prepped for what could be another robust corporate earnings season.
Also lifting sentiment Monday was a lack of headlines linked to the various trade disputes between Washington and its major economic allies and a steadying in global oil prices following consecutive weekly gains.
Shares in Asia and Europe booked solid gains.
Groupon, as well as bankers representing it, have contacted several public companies in the past month to try to drum up interest in acquiring the Chicago-based company, two people briefed on the approaches told Recode.
PayPal Holdings Inc. (PYPL) , flush with cash and boasting a clean balance sheet amid the golden age of digital payments, plans to spend $1 billion to $3 billion a year on acquisitions, said PayPal CEO Dan Schulman in a new interview with Germany's Handelsblatt newspaper. The stock rose 0.3%.
BP PLC (BP) is in the lead to acquire the U.S. onshore shale oil and gas assets of BHP Billiton Ltd. (BHP) after submitting an offer of more than $10 billion, people familiar with the matter told Reuters.
GameStop Inc. (GME) rose 1.9% to $15.44 after Jefferies analyst Stephanie Wissink initiated coverage of the stock with a buy rating. Wissink's price target is $18.
Twitter Inc. (TWTR) pared earlier losses but still ended the day down 5.3% after the Washington Post reported the company has shut down up to 70 million fake and suspicious accounts since May.
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