Stocks (^DJI, ^GSPC, ^IXIC) are giving back Wednesday’s gains at the midday mark, with only the utilities sector (XLU) still in the green and financials (XLF) leading the way down. Alan Valdes, director of floor operations at Silverbear, 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 Rick Newman and Scott Rostan, president & founder at Training The Street.
Snap begins trading on NYSE
Snap, the most anticipated IPO of the year, just began trading under the ticker, SNAP. After it priced at $17 a share yesterday, the parent of Snapchat opened at $24 today and hit as high as $25.20 in the following minutes.
The stratospheric cost of Trump’s economic plan
Let’s discuss President Donald Trump’s budget and his plan to “restart the engine of the American economy” that he talked about Tuesday night. It’s a very expensive plan and there are lots of questions about where Trump will find the money to pay for it all.
Pepsico to cut jobs in Philly, blaming soda tax
PepsiCo is cutting as many as 100 jobs in Philadelphia, and it’s blaming the city’s new tax on soda. Pepsi said the tax, which is 1.5 cents per ounce, has sent its beverage sales sliding 40% in Philly.