Here Are 3 Hot Things to Know About Stocks Right Now
- The big event this week is the summit between President Donald Trump and North Korean leader Kim Jong Un, which begins Tuesday.
- The Dow Jones Industrial Average I:DJI , the S&P 500 I:GSPC and the Nasdaq I:IXIC rose Monday for the sixth time in the past seven sessions.
- The Dow last week rose 2.77%, the S&P 500 gained 1.62% and the Nasdaq finished up by 1.21%.
Wall Street Overview
Stocks finished higher on Monday, June 11, as Wall Street prepared for an extraordinary week for risk events around the world.
The story of the week will take place Tuesday, June 12, when Donald Trump is set to meet with North Korean President Kim Jong Un in Singapore. The meeting will be the first time an American president meets with a sitting North Korean leader.
Closer to home, the Federal Reserve begins a two-day meeting on Tuesday at which the central bank is expected to raise short-term interest rates for the second time this year and seventh time since December 2015.
One top strategist told TheStreet's Scott Gamm that investors shouldn't fear four rate hikes in 2018. Watch below.
Market sentiment could be dented by the collapse over the weekend of the G-7 summit in Quebec City, where Trump declined to endorse a G-7 communique calling for a lowering of tariffs and other barriers to trade and instead bashed trading partners NATO and Canada in a series of tweets.
KKR will pay $46 for each share Envision Healthcare, which is a premium of 5.4% to Envision's closing price of $43.64 on Friday, June 8. Shares of Envision Healthcare were up 2.2% to $44.63 on Monday.
USG Corp. (USG) rose 3.8% to $43.02 after it agreed to be acquired by Germany's Gebr. Knauf AG in a deal valued at $7 billion.
USG will be acquired for $44 a share, which represents a 6.2% premium to the stock's closing price on Friday, June 8, of $41.44.
Workday Inc. (WDAY) - Get Report agreed to buy cloud-based business planning company Adaptive Insights in a deal valued at $1.55 billion. Adaptive Insights filed May 17 for a proposed initial public offering that would value the company at up to $672.1 million.
Newell Brands Inc. (NWL) - Get Report boosted its stock buyback program by $2.5 billion, which adds to the roughly $1.1 billion remaining under its previously announced authorization. The stock rose 3.6%.
4 Top Experts Tell You How to Play the Market. TheStreet's Scott Gamm recently sat down with top market watchers from Bank of America, Fisher Investments, Invesco and Wells Fargo. Click here and register to watch a free roundtable in which they lay out their best advice.