Today's charts: Oil giants brace for Hurricane Harvey; Mayweather-McGregor brings big bets to Vegas; Tesla in focus
Yahoo Finance is tracking Exxon, Anadarko Petroleum, Royal Dutch Shell, ConocoPhillips, Wynn Resorts, MGM Resorts, CBS and Tesla in intraday trading on Friday.
Oil giants brace for Hurricane Harvey to make landfall
The oil markets are on edge as the Gulf region, the center of the energy sector, braces for Hurricane Harvey to make landfall. The storm, which is expected to hit Texas tonight, is currently a Category 2 storm but could strengthen into a Category 3 by Saturday. Energy prices are rising ahead of the storm as oil refineries halt operation in the region. Anadarko Petroleum (APC), Exxon (XOM) and Royal Dutch Shell (RDS-A) are among the energy giants that are shutting down offshore operations and evacuating workers. ConocoPhillips (COP) announced it had halted drilling in the Eagle Ford shale field. September gasoline futures (RBU17.NYM) rallied to their highest level in five months on Friday while crude oil prices edged higher.
Huge bets roll in ahead of Floyd Mayweather vs. Conor McGregor fight
Millions are expected to watch the Floyd Mayweather-Conor McGregor fight Saturday night, and some experts say it could attract a record amount of betting on boxing. Las Vegas casino stocks, including Wynn Resorts (WYNN) and MGM Resorts (MGM), are in focus as large bets come pouring in. CBS (CBS) could also be a big winner on TV this weekend. The network is streaming the fight live on Showtime PPV.
Tesla CEO Elon Musk reportedly causing turmoil in Autopilot division
Tesla (TSLA) is in focus after a report by The Wall Street Journal highlighted some issues inside the electric carmaker. According to the report, CEO Elon Musk’s lofty goals for self-driving car technology has caused several employees to resign. Based on people who worked on the project and documents reviewed by The Wall Street Journal, the team has ‘clashed over deadlines and design and marketing decisions.’
For more on Friday’s big stock movers and breaking news after the bell, check out The Final Round, starting at 3:55 p.m. ET, on Yahoo Finance.
