Posts by Jennifer Carinci

  • DC Strikes a Deal as Default Deadline Looms

    Jennifer Carinci at Breakout8 mths ago

    In an 11th-hour agreement, Senate leaders announced they reached a short-term deal to reopen the government and raise the Treasury's debt limit. Timing of the votes in both the Senate and House are still being worked out. Here are the details of the plan we know so far:

    *Bill would fund federal agencies at current spending levels through January 15th

    *Borrowing authority would be extended through February 7th

    *A committee would be established to address long-term fiscal solutions

    Meanwhile, stocks rose across the board with all three major averages closing higher by over 1%.

    The Yahoo Finance team along with top financial commentators sounded off on the deal ahead of the market close on Wednesday October 16th. That conversation can be found via Storify right here.

    More from Breakout:

    Senate Strikes a Deal: Is it Good for Your Wallet?

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  • Stocks Sink as Budget Blame Game Heats Up

    Jennifer Carinci at Hot Stock Minute9 mths ago

    Stocks closed at session lows and volatility (^VIX) spiked after little progress was made to break the budget stalemate on Capitol Hill. The Dow (^DJI) and S&P 500 (^GSPC) both dropped over 1%. The tech-heavy Nasdaq (^IXIC) was hit hardest, falling 2% after a big sell-off in social media stocks (SOCL) dragged on the sector. Here are some of the worst performers: Facebook (FB) -6.7%, Netflix (NFLX) -5%, LinkedIn (LNKD) -6.1%, Pandora (P) -9%, Yelp (YELP) -7.8%, Yahoo (YHOO) -3.5%.

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  • Budget Stalemate Sends Stocks Lower

    Jennifer Carinci at Hot Stock Minute9 mths ago

    Global markets are starting to take notice of the lack of progress out of Washington, D.C. Japan's Nikkei (^N225) fell 1.2% and European markets closed mixed as the world watches the U.S. budget stalemate. Here at home, the major averages all dipped nearly 1%.

    While the U.S. government has now been shuttered for seven days due to Congress' failure to reach a budget agreement, it's the debt ceiling that's front and center weighing on investors. The U.S. Treasury is running out of time and money to pay the bills. The U.S. Treasury expects to breach the $16.7 trillion debt limit on October 17th, but Republicans and Democrats are as far apart as ever. House Speaker John Boehner says he won't allow a vote on raising the debt ceiling without serious cuts to the budget.

    Poll: Should the government offer full pay for idled workers during shutdown?

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  • Poll: Should Government Offer Full Pay for Idled Workers During Shutdown?

    Jennifer Carinci at Hot Stock Minute9 mths ago

    In a rare Saturday session, the Republican-led House of Representatives voted unanimously to pass a bill offering full pay for government employees while they're not at their jobs during the shutdown. Senate Democrats intend to pass the bill early this week, and President Obama says he'll sign off on it. Is it fair? That's the subject of today's Hot Stock Minute Poll. Please vote below!

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  • Elon Musk Fires Back, Apple Ripe for the Picking

    Jennifer Carinci at Hot Stock Minute9 mths ago

    Blackberry (BBRY) shares are up 4% as the company works the room. The former smartphone titan is now in talks with Cisco (CSCO), Google (GOOG), and SAP (SAP) about selling all or parts of the company, according to a Reuters report. Blackberry shares are down nearly 30% over the last one-month, despite reaching a preliminary agreement with Fairfax Financial several weeks ago, allowing the firm to take the company private in a $4.7 billion deal. However that bid is facing skepticism over their ability to finance the deal.

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  • Stocks Under Pressure on Budget, Debt Ceiling Stalemate

    Jennifer Carinci at Hot Stock Minute9 mths ago

    Global markets are starting to take notice of the lack of progress out of Washington, DC. Japan's Nikkei (^N225) fell 1.2% and Europe is down across the board as the world watches the U.S. budget stalemate. Here at home, the major averages are under pressure with the Dow (^DJI) falling triple digits in early trading.

    While the U.S. government has now been shuttered for seven days due to Congress' failure to reach a budget agreement, the debt ceiling showdown is front and center. The U.S. Treasury is running out of time and money to pay the bills. We're expected to breach the $16.7 trillion debt limit on October 17th, but Republicans and Democrats are as far apart as ever. House Speaker John Boehner says he won't allow a vote on raising the debt ceiling without serious cuts to the budget.

    Poll: Should the government offer full pay for idled workers during shutdown?

    Read More