Stocks inching higher to new records as economic reports come in strong and a big jobs report awaits. Plus, while Puerto Rico struggles, its bonds are tanking thanks to Trump. How badly could the blowback hurt investors? And, tax reform heating up, we parse through the language and separate fact from fiction, with former CBO head Douglas Holtz-Eakin. Catch the Final Round at 3:55 p.m. ET with Jen Rogers, Yahoo Finance Editor-in-Chief Andy Serwer and columnist Rick Newman.
Winners and losers
Stocks lower include Shopify (SHOP) as short-seller Citron Research calls the e-commerce platform a ‘get-rich-quick-scheme’ that is ‘dirtier’ than Herbalife. Shopify has declined to comment; Banco Santander (SAN) as Spanish banks suffer their worst day in 14 months as the Catalan crisis deepens; and Office Depot (ODP), with shares dropping after the company announced a ‘pivot’ from office products to business services and technology products. As the first step in this new strategic direction, Office Depot acquired CompuCom Systems for $1 billion.
Shares on the move higher include Mylan (MYL) as the FDA approved its generic MS treatment, Netflix (NFLX) as UBS increases its price target claiming its strong growth momentum will roll on, and Global Blood Therapeutics (GBT), with shares of the biopharma name surging after Steven Cohen’s Point72 Asset Management revealed a 5.2% stake in the company.
Business of baseball as playoffs begin
Sick of hearing us talk about the NFL and its ratings slide, image problem and troubles with Trump? You’re in luck. It’s October and that means baseball playoffs. Here to talk the business of baseball Yahoo Finance’s Dan Roberts and Myles Udland.
