Who would have thought the media story we'd be following ahead of the 4th of July weekend would have to do with the president of the United States, a cable morning show and a tabloid?
After a bouncy week, stocks ended the day Friday mixed. The Dow Jones Industrial Average climbed 0.29% and the S&P 500 was up 0.15% while the Nasdaq fell by 0.06%. Oil rallied 2.87% to $46.22 after weekly rig count data from Baker Hughes showed the first decline in activity in 24 weeks.
Nike ( NKE) was the big stock story of the day, closing Friday up by more than 10% after earnings topped Wall Street forecasts. The company also confirmed an agreement with Amazon ( AMZN) to sell its sneakers on its website.
The steel industry weighed reports the Trump administration might slap a 20% tax on imports. Shares of Nucor ( NUE) and U.S. Steel ( X) ended the day slightly down, while Steel Dynamics ( STLD) made gains. Truth be told, the U.S. steel industry has issues with or without tariffs -- imposing them could spark a trade war, skipping them would kill the investor optimism that boosted them in the first place.
Exclusively at TheStreet, tech reporter Annie Palmer spoke with top Google ( GOOGL) scientist Peter Norvig. The subject of discussion: artificial intelligence.
And so we've arrived at the final day of the second quarter of 2017. Enjoy your holiday weekend, and see you for a market half-day on Monday.
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Photo of the day: National Enquirer
Before National Enquirer was going after "Morning Joe" co-hosts Mika Brzezinski and Joe Scarborough, it had another target: Hillary Clinton. The former secretary of state has been a tabloid favorite over the years, including during the 2016 election, when the Enquirer claimed to have dirt on her declining health. (The mag at the very least had quite a lot of fun with Photoshop.) Enquirer chairman and CEO David Pecker is reportedly considering a bid to take over Time Inc. Rafael Cruz conspiracy theories on the cover of Sports Illustrated, anyone.
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