Stocks (^DJI, ^GSPC, ^IXIC) are under pressure at midday, with energy (XLE) leading the way down and consumer staples (XLP) still in the green. 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, Alexis Christoforous is joined by Yahoo Finance editor-in-chief Andy Serwer and David Nelson, chief strategist at Belpointe Asset Management.
Las Vegas casinos to fire Warren Buffett
What happens in Vegas isn’t staying in Vegas. MGM Resorts International and Wynn Resorts, two of the Strip’s biggest power users, are looking at cheaper, cleaner energy out of state. They’re willing to pay Warren Buffett’s NV Energy millions in fees to get out. Buffett bought the company for $5.6 billion back in 2013 in an effort to expand services in the Western U.S.
"The Donald" isn't paying his bills
More problems follow presidential candidate Donald Trump. A Wall Street Journal review of court filings shows Trump sometimes refused to pay business owners what they were owed. According to Trump, if the work is okay or bad, he would sometimes cut their payments. Payment disputes are common in the construction industry, but Trump’s withholding of payments stand out as particularly aggressive to many people he’s worked with.
Bill Gross: negative rates are a "supernova"
Bond magnate Bill Gross is worried about negative interest rates, which now total $10.4 trillion. Gross says they're a "supernova that will explode one day.” And maybe that's why at a U.S. bond auction Thursday, there was near-record demand for 30 year bonds yielding a whopping 2.45%.