Market Update July 16 - Business Insider
Please enter a valid phone number. Please enter your Phone Number. Send Thanks! A link has been sent. Done Stocks up after China growth report, Asia dawdles By YURI KAGEYAMA 6 hours ago 0 shares Content preferences Done TOKYO (AP) European stocks advanced Wednesday after China's economic growth picked up slightly in the second quarter but Asian markets were lukewarm about the data that largely fitted expectations.
GLOBAL MARKETS-Stocks up around the world on China data, M&A - Yahoo Finance
Lisbon shares rose 3.1 percent, with BES shares soaring 20 percent. U.S. DOLLAR RISES The U.S. dollar http://www.todayhotstocks.com index, which values the greenback against a basket of currencies, rose 0.2 percent, advancing for a second straight session to hit its highest in a month after Yellen said interest rates could rise sooner than expected if employment data improved. The euro was down 0.3 percent at $1.3525 while the dollar was flat against the yen at 101.70 yen.
Stocks End Mostly in Red After Yellen, Earnings, Data - Yahoo Finance
In particular, sales of hepatitis C drug Olysio significantly outperformed expectations. However, the firm could see some competition in that drug market by the end of the year, and shares fell 2%. Reynolds American (RAI) announced it will acquire Lorillard (LO) in a cash-and-stock buyout valued at $25 billion. Reynolds separately announced it is selling several of its core brand names to Imperial Tobacco Group (ITYBY) for $7.1 billion to avoid possible antitrust litigation from the Lorillard deal. However, Reynolds shares dropped 6.9%, and Lorillard shares sank 10.5%.
Stocks are higher on a busy day that has seen huge merger news and the second day of Federal Reserve Chair Janet Yellen speaking on Capitol Hill. The Dow up 62 points, the S&P 500 is up 7 points, and the Nasdaq is up 17 points. The biggest news of the day is Rupert Murdoch's offer to buy Time Warner for $80 billion, which Time Warner rejected. Excluding food and energy, prices rose 0.2%. Homebuilder confidence in July rose to 53 from 49 , according to data from the NAHB, better than the 50 that was forecast by economists and the first reading above 50 since January. Industrial production data showed that in June, production slowed to 0.2% , below expectations for a gain of 0.3% and down from May's revised reading of a 0.5% increase. CNBC is also hosting its Delivering Alpha conference today, featuring a number of noted hedge fund managers, including Leon Cooperman, who gave his 12 favorite stock picks , which included KKR, Citigroup, and Thermo Fisher. Our wall-to-wall coverage of Delivering Alpha will be on Clusterstock all day .