Stocks (^DJI, ^GSPC, ^IXIC) are plunging on the second business day after the UK voted Thursday to divorce the European Union. Financials (XLF) are again getting hammered and leading the way down, with only utilities (XLU) 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's Nicole Sinclair and Dan Roberts.
Burberry could 'thrive' following Brexit
While Brexit could damage every retail sector in Europe, one company could actually thrive. Analysts predict that although the British fashion brand, Burberry Group, will eventually have higher costs in production, that they could be offset by American tourists buying luxury gear in greater numbers. Burberry, which had £2.5 billion in revenue last year, is the UK’s best known and largest luxury brand.
Aspartame is back in Pepsi
PepsiCo is re-adding a controversial artificial sweetener back in its line-up. The new Diet Pepsi Classic Sweetener Blend will contain aspartame in its formula. The company originally removed aspartame after health concerns. Now, over a year after the change, PepsiCo cites customer dissatisfaction as to why it's bringing back the additive, which many people believe is safe despite its approval by the FDA.
Yankees replaces Ticketmaster with StubHub
A longstanding baseball feud is coming to an end. Yankees is making StubHub the official reseller of its game tickets, replacing Ticketmaster. Yankees had complained that Stubhub was selling its tickets too cheaply and that it enabled ticket fraud.