Stocks (^DJI, ^GSPC, ^IXIC) are rallying for the fourth straight day, with the S&P 500 and Dow Industrial paring nearly all of the Brexit losses. Consumer Discretionary (XLY) is leading, with utilities (XLU) in the red. Keith Bliss of Cuttone & Co. joins us live from the New York Stock Exchange.
To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance's Melody Hahm and Seana Smith.
Google admits diversity failure
Silicon Valley isn’t moving fast enough to diversify its workforce. The latest data comes from Google. Back in 2014, the tech giant first disclosed the racial makeup of its staff. Women made up 32% of Google this year, up only 1% from the year before. Blacks, Hispanics, and biracials didn’t move at all. Google blames the lack of diversity on the fact that fewer women and minorities earn computer science degrees compared to white men.
Study finds evidence of insider trading in 50 large retailers
"Greed is good," or so said Gordon Gekko in the movie "Wall Street." And maybe it is if you're a shareholder, but a new study of 50 large retailers claims that management is using inside information to buy their own stock at a discount. The authors of the study developed an innovative method to track real-time performance of corporate sales.
Mickey Mouse is helping turn around Coach
An iconic fashion company is turning to Mickey Mouse to revitalize its brand. Coach’s new Disney line features Mickey Mouse handbags, clothing, and home goods ranging from $25 to $2,000. By offering these exclusive products, Coach, which gets 60% of its sales from outlets, has been able to make consumers pay full price. Coach is aiming to win back customers from Kate Spade and Michael Kors and has seen a $3 growth in stock price since the launch.