Stocks (^DJI, ^GSPC, ^IXIC) are rallying at the midday mark, led by the energy (XLE) sector, with health care (XLV) trading in the red. Stephen Guilfoyle, managing director of floor operations for Deep Value Execution Services joins us live from the New York Stock Exchange.
To discuss the other big stories of the day, Nicole Sinclair is joined by Yahoo Finance's Rick Newman and Melody Hahm.
Mobile app usage is trending down now
Android users all around the world are using social media apps less. In almost every country, time spent on Facebook, Snapchat, Instagram and Twitter apps is down. This is according to a study by SimilarWeb. Twitter saw a substantial drop in France. Users were on the app for almost 20 minutes a day this time last year, and now they’re tweeting only 13 minutes a day.
Why free money just won't work
How much could you do with an extra thousand dollars every month? Many economists around the world are proposing universal basic income or UBI. The policy would use taxes to redistribute wealth to the needy in the form of a paycheck they don’t need to earn. If the U.S. wanted to implement UBI, it would cost over $3 trillion to provide every person with $10,000 per year.
When will Bernie Sanders officially throw in the towel?
Bernie Sanders has taken the nation by a storm. Although Hillary Clinton is the party's presumptive nominee, Sanders refuses to stand down. With 851 delegates still up for grabs, Sanders continues to fight for a win in California and five other states today. Even if Sanders loses, he has changed the game.