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TheStreet TV

Summary: Financial news and analysis from TheStreet

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 Closing Bell: Nike Rally Boosts Consumer Names; Mixed June on Wall Street | File Type: | Duration: 00:59

It was a mixed month for Wall Street with the Dow Jones Industrial Average and S&P 500 closing with gains, but the Nasdaq holding onto losses. A sharp selloff in tech in June pulled the Nasdaq lower to close out with its first negative month since October. Crude oil prices rallied this afternoon after weekly rig count data from Baker Hughes showed the first decline in activity in 24 weeks. The number of active rigs has only dropped two times this year. A rally in Nike Inc. spilled over into the consumer space. The athletic footwear company led the Dow after a positive earnings report and confirmation of a deal to sell its products through Amazon.com Inc. . Chipmaker Micron Technology declined despite posting a better-than-expected quarter. Micron topped earnings and sales expectations. The company also forecast above-consensus results for its fourth quarter.

 Midday Report: Chicago Manufacturing at Highest Since 2014; Wall Street Mostly Higher | File Type: | Duration: 00:55

Stocks were mostly higher to end the week as benchmark indexes looked to close out the second quarter with healthy gains. Strong fundamentals and a positive earnings season have given markets a boost over the past three months. Manufacturing conditions in the Chicago region showed unexpected improvement in June, reaching its highest level since 2014. Any reading over 50 indicates expansion. Consumer sentiment weakened slightly in June, though beat economists' estimates. Consumer expectations dipped, while sentiment on current conditions strengthened. Hain Celestial Group rose after activist investor Engaged Capital reportedly pressed the company to sell itself. Engaged has submitted seven candidates for the company's board.

 Closing Bell: Nasdaq Loses June Gains; Tech Stocks Suffer Another Selloff | File Type: | Duration: 00:59

A selloff in tech stocks regained momentum, pulling the Nasdaq lower for the day and wiping out the index's monthly gain. The tech-heavy index has not seen a monthly loss since October. Tech stocks were the worst performers as the industry endured another downswing in a series of selloffs that has plagued the sector in recent weeks. The Technology Select Sector SPDR ETF is on track for its worst monthly performance since April 2016. Fred's tumbled after losing a deal to acquire as many as 1,200 Rite Aid stores. That deal was scrapped after Walgreens and Rite Aid ended its merger agreement. Fred's was to acquire Rite Aid locations so the merger could pass regulatory muster. Pier 1 Imports slumped after a disappointing quarter. Same-store sales declined by 0.2%, while overall revenue fell short of consensus. E-commerce sales made up a larger chunk of net sales over its fiscal first quarter.

 Midday Report: Crude Stockpiles Rise; Stocks Rebound From Worst Losses in a Month | File Type: | Duration: 01:07

Wall Street was in rebound mode, bouncing back from its worst losses in a month a day earlier. Nasdaq was attempting to snap a two-day losing streak. Healthcare and tech, laggards of the week, were both in the green. Arconic Inc. led gains in basic materials stocks after two days of losses. Shares of the metals manufacturer have tumbled so far this week after being named as the producer of aluminum steel used in the Grenfell Tower. A fire at that U.K. tower earlier this month killed dozens. The pending home sales index declined in May as constrained supply continued to suppress activity. The number of sales in which a contract has been signed but deal not yet closed has declined for three straight months. Crude oil made a sharp break higher even after a weekly rise in domestic stockpiles. The EIA reported a 100,000-barrel build in crude oil inventories in the past week.

 Midday Report: Pandora's CEO Confirms Resignation; Consumer Confidence Rises | File Type: | Duration: 01:00

Wall Street was mixed as crude oil supported gains in energy and tech dragged on the Nasdaq. Alphabet Inc. weighed on its peers after getting hit with a record-breaking fine from the EU. Consumer confidence unexpectedly rose in June as the number of those who viewed employment as plentiful increased to its highest level since 2001. Confidence in the present situation rose, though there was some losses to expectations. Darden Restaurants rose after topping earnings and sales estimates over its recent quarter. Same-restaurant sales rose 3.3%, led by gains at Olive Garden and Longhorn Steakhouse. Pandora Media was active after founder Tim Westergren confirmed that he would step down as chief executive. He will also step down from the board. Shares rose a day earlier on reports of this development.

 Midday Report: Arconic Falls on Reports of Ties to Grenfell Fire; Tech Makes Turn Lower | File Type: | Duration: 00:59

The Nasdaq led losses on Wall Street as tech resumed a selloff that hit the sector mid-June. Healthcare was also under pressure ahead of an expected vote on the GOP repeal-and-replace bill later this week. Arconic Inc. slumped after being named as the producer of aluminum steel used in the Grenfell Tower. A fire at Glenfell Tower in the U.K. this month killed at least 79 people. Avis Budget Group Inc. rose after reaching a deal with Alphabet self-driving car branch Waymo to manage its fleet of vehicles. Avis will store the fleet in Phoenix where Alphabet is currently testing its driving technology. GrubHub fell after being downgraded to equal weight from overweight at Morgan Stanley. The firm pointed to increased online competition, including from Amazon.com Inc. .

 Closing Bell: S&P 500, Dow Fall in Final Moments; Healthcare Holds Higher | File Type: | Duration: 00:58

The S&P 500 and Dow Jones Industrial Average ended lower for the third session in a row. The two indexes fell into the red in the final moments of the day, though a healthcare rally did give rise to the Nasdaq. Nordstrom Inc. climbed as it reportedly moves forward with its search for a private equity buyer. The department store chain has formed a special committee of the board and has hired legal and financial help to assist with the search. Hain Celestial Group Inc. found no need to make any material changes to previously reported earnings after an audit and investigation that lasted more than a year found no discrepancies. Hain shares fluctuated over the session. American Airlines Group Inc. was active on news Qatar Airways would make a significant investment in the company. American said Qatar's investment was unsolicited.

 Closing Bell: Etsy Announces More Job Cuts; Health Care Gives Nasdaq Boost | File Type: | Duration: 01:03

The S&P 500 and Dow Jones Industrial Average ended lower, retreating further from records set earlier in the week. A sharp selloff in crude stretched into day two and pulled the energy sector lower. Etsy Inc. increased after announcing plans to cut 140 jobs, or 15% of its workforce. The latest cuts are in addition to the 90 job cuts announced last month. The online crafts store anticipates severance costs of at least $6 million. The health care sector rose on high hopes for eased regulations in the industry. The Trump administration is reportedly drafting an executive order to ease regulatory burdens on drugmakers to drive down drug prices. Foot Locker Inc. tumbled after a Goldman Sachs note said that Nike Inc. is considering selling its products directly through Amazon.com Inc. . Nike rival Under Armour Inc. already has a relationship with Amazon.

 Midday Report: FedEx Beats Quarterly Estimates; Crude Falls Even as Supplies Drop | File Type: | Duration: 00:38

The S&P 500 and Dow Jones Industrial Average turned lower as a selloff in energy resumed. Crude oil gave back earlier gains to pull lower even after a drop in domestic stockpiles. Crude supplies fell by 2.5 million barrels in the past week, according to the Energy Information Administration. Existing home sales rose at a faster pace than anticipated in May. Sales of previously owned homes increased by 1.1% to a seasonally adjusted annual pace of 5.62 million. FedEx Corp. beat quarterly earnings and sales estimates over its recent quarter. The package delivery company swung to a profit. Red Hat Inc. surged 10% after beating earnings estimates and bumping its full-year guidance higher.

 Closing Bell: Crude Settles in Bear Market Territory; U.S. Stocks Decline | File Type: | Duration: 00:59

The S&P 500 and Dow Jones Industrial Average backed off from records set at beginning of week. Crude oil stumbled into bear market territory, having fallen just over 20% below a 52-week high set in late February. House Speaker Paul Ryan expects tax reform by year's end. At an event Tuesday, he called on Congress to seize "once-in-a-generation moment" Chipotle Mexican Grill fell after warning of tighter profit margins in current quarter. Marketing and promotion costs expected to climb by 20 to 30 basis points in the second quarter. Cable companies, including Comcast Corp. and Charter Communications Inc. , were under pressure, MoffettNathanson's Craig Moffett downgrades sector to neutral from overweight

 Midday Report: S&P 500 Retreats From Records; Crude Oil Falls Into Bear Territory | File Type: | Duration: 01:03

The S&P 500 fell from records on Tuesday as a steep selloff in crude oil prices sent the energy sector lower. Major decliners includeD Exxon Mobil Corp. , Schlumberger Ltd. , Chevron Corp. , Halliburton Co. and Royal Dutch Shell PLC . U.S. crude oil tumbled below $43 a barrel on Tuesday, its lowest level of the year. Oil entered bear territory after concerns over a supply glut flamed up ahead of domestic supplies data. Lennar Corp. climbed after topping profit and sales estimates over its second quarter. Deliveries increased 15% and new order value rose 17%. McDonald's Corp. MCD grew after Cowen & Co upgrades to OUTPERFORM from MARKET PERFORM and increased its price target. Analysts' optimism was based on higher U.S. same-store sales tied to mobile ordering initiatives.

 Closing Bell: 'Cars 3' Speeds to Number One; S&P 500, Dow at Closing Records | File Type: | Duration: 00:58

Wall Street enjoyed big gains as tech names recovered from last week's selloff and the Dow Jones Industrial Average and S&P 500 secured new closing records. The Nasdaq rose more than 1%. Walt Disney's 'Cars 3' dominated the weekend box office, toppling 'Wonder Woman' from the number one perch. The third installment in the franchise brought in $53.5 million at domestic theaters. Snap Inc. rose more than after signing a two-year $100 million dollar deal with Time Warner . The two agreed to create up to TEN original programs per year, including scripted comedy and drama. Costco was downgraded to hold from buy at Deutsche Bank. Analysts said the bulk-purchase retailer would see increased competition following the Amazon-Whole Foods deal. Goldman Sachs downgraded Costco last week.

 Wall Street Wakes up to Another Terrorist Attack in London | File Type: | Duration: 01:12

One person is dead, 10 injured as a van plowed through a crowd near a mosque in London. The 48 year old suspect has been taken into custody. Witnesses describe the suspect as a white man who reportedly made derogatory statements against muslims. Some of the top technology Chief Executives are visiting the White House today for the first meeting of the American Technology Council. Among those expected to attend-Alphabet's (GOOLG) Eric Schmidt, Apple's (AAPL) Time Cook, and Amazon's (AMZN) Jeff Bezos. Topics may range from ways the federal government can better used information technology to policies on H1-B Visas. Boeing (BA) is expected to roll out a new 737 model today. Reuters reports the 737 Max 10 could be unveiled at the Paris Air Show. It seats 190 to 230 people would be used for medium haul flights.

 Closing Bell: More Losses for Nasdaq; Kroger Caught Up in Supermarket Selloff | File Type: | Duration: 01:01

The S&P 500 and Nasdaq ended the session with losses for the third day in a row, while the Dow Jones Industrial Average reached a record. Amazon.com Inc.'s decision to purchase Whole Foods Market Inc. set off declines among retail and grocery stocks earlier in the day. Oil held onto modest gains even after another weekly rise in domestic production. Active rigs drilling for oil climbed by six in the past week, its 22nd increase in a row. Kroger Co. was caught up in a selloff in retail and supermarket names to end the week. The grocer was already under pressure after JPMorgan cut its rating to NEUTRAL from OVERWEIGHT and reduced its price target. Finisar Corp. surged on high hopes it will deliver tens of millions of 3D sensors to Apple Inc. in coming months. Piper Jaffray said such sales would provide Finisar with millions in high-margin sales in its October and January quarters.

 Wake up Wall Street: Nestle Explores Selling It's U.S. Candy Business | File Type: | Duration: 01:03

U.S. stock futures were higher on Friday, June 16, ahead of data on the U.S. housing market and consumer sentiment, and as tech shares showed signs of a slight rebound after a recent battering. Read more: 5 Things You Must Know Before the Market Opens Friday

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