STOCKS RISE: Here's what you need to know
Jim Bourg/Reuters
US stocks rose early on the second day of a holiday-shortened week and held onto those gains for the rest of the sessoion.
The S&P 500 rose about 0.6%, the Dow Jones industrial average was up about 0.7%, and the tech-heavy Nasdaq was gained 1.0%.
First up, the scoreboard:
- Dow: 23,584.83, +154.50, (+0.66%)
- S&P 500: 2,598.11, +15.97, (+0.62%)
- Nasdaq: 6,856.90, +66.18, (+0.97%)
- US 10-year yield: 2.363, -0.009
- WTI crude oil: $56.93, +0.51, (+0.90%)
1. There's a cheap way for traders to protect against tax reform failure. Goldman Sachs' derivatives strategy team pointed out that a trade hedging against a moderate decline in the S&P 500 is reasonably priced.
2. Americans are having trouble paying off their credit cards - and it could spell trouble for the economy. US credit card delinquencies are rising, which could be a red flag for consumer spending going forward.
3. The three best ways to trade Amazon's retail dominance. There are a couple investment strategies that can take advantage of the Amazon-induced retail apocalypse: Buy Amazon stock outright, buy stock in companies that support Amazon, and buy companies in "Amazon-proof" sectors.
4. Robinhood is going after established brokers with a brand-new feature. The zero-commission brokerage popular with millennials is rolling out a feature allowing users to transfer stock from their accounts with other brokers.
5. Cryptocurrency ICOs are the tech bubble we've been waiting for. People are pouring money into cryptocurrency-based initial coin offerings, even though there are often no underlying assets with real value.
6. Three maps show why NAFTA is so important to the US. Trade with Mexico and Canada is a big deal for several state and regional economies.
ADDITIONALLY:
Hedge funds loaded up on these 10 stocks last quarter
Chinese tech giant Tencent has surpassed Facebook in market value
Lowe's beats across the board, boosted by lower costs and strong demand for emergency supplies
Bitcoin soars to new high above $8,300 after $30 million crypto hack
Signet Jewelers craters 25% after issuing a warning for 2018
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