Hello, Dow $26,000. Goodbye, Dow $26,000. Plus, a big reversal for the blue chips with a government shutdown looming. And Bitcoin is down in a sea of red. What’s dragging cryptocurrencies lower? Yahoo Finance’s Jen Rogers, Dan Roberts and Myles Udland discuss the big stories of the day. And Yahoo Finance’s Julia La Roche also sits down with value investor Whitney Tilson to discuss his latest business ventures.
Winners and Losers
Stocks in the green include Qualcomm after the chipmaker raised its profit forecast and said it might buy back stock if its $38 billion bid to buy NXP Semiconductors doesn’t get approved. Citi is posting gains. The big bank reported better than expected adjusted earnings, despite taking a $22 billion hit from tax reform. And shares of H&R block are higher after announcing it will be the “exclusive do-it-yourself” desktop tax software provider at Walmart stores nationwide.
Stocks in the red include Fiat Chrysler after the CEO said he has no intention of breaking up the company. GE, the worst performer in the Dow today, took a hit after announcing a $6.2 billion charge related to its legacy reinsurance business. CEO John Flannery also said the company’s re-evaluating its strategy and structure. And Under Armour is under pressure after Macquarie downgraded the stock to underperform and slashed its price target by 20%.