STOCKS JUMP: Here's what you need to know
Oct 11, 2016, 20:01 IST
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We've got all the headlines, but first, the scoreboard:
- Dow: 18,326.64, +86.15,(+0.47%)
- S&P 500: 2,163.40, +9.68, (+0.45%)
- Nasdaq: 5,328.12, +35.64, (+0.68%)
- WTI crude oil: $51.18, +1.37, (+2.75%)
- 10-year yield: 1.723, -0.103, (-0.75%)
- Oil surged on reports Vladimir Putin is willing to work with OPEC. Oil jumped after reports said the Russian leader would be willing to freeze the level of oil pumped in the country. This follows a preliminary agreement from the members of the oil cartel to do the same.
- Sprint, Verizon, AT&T, and more are dumping the Samsung Galaxy Note 7. Continued concerns over the smart phone's explosion issue led a number of wireless companies to decide to no longer offer the phone.
- Twitter continued to tank. The social media company slid another 12% as the firm deals with the fallout of reports that no one is interested in buying it.
- Apple hit its highest level since December. With rival Samsung hung up with the exploding Galaxy Note 7 scandal, the tech giant made it over $116 a share, up around 30% from its 52-week low.
- Warren Buffett struck back at Donald Trump. After Trump called out Buffett at the second presidential debate, saying the legendary investor has taken advantage of loopholes to not pay taxes. In response, Buffett released the details of his 2015 tax returns and said that even though was under IRS audit, he was still doing so.
- Twilio tanked after it announced another stock offering. The tech firm, which went public in June, said it is considering offering more stock to investors, which raised concerns about dilution. Twilio stock had soared prior to the announcement.
Additionally:
Things are so bad for Wells Fargo even Catholic nuns are dumping the bank.
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