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Stocks slipped late in the day after the Wall Street Journal reported that special counsel Robert Mueller enlisted a grand jury in the ongoing probe into Russian affairs.
The S&P 500 lost 0.2%, while the Dow was little changed and the Nasdaq fell 0.4%. Traders digested the latest round of corporate earnings reports and are anxiously awaiting the next batch of jobs data, with the monthly non-farm payroll report due Friday morning.
First up, the scoreboard:
- Dow: 22,026.55, +10.31, (+0.05%) S&P 500: 22,026.55, -5.52, (-0.22%) Nasdaq: 6,340.34, -22.30, (-0.35%) US 10-year yield: 2.23%, -0.034 WTI crude oil: $48.93, -0.66, -1.33%
1. Albert Edwards says the same problems that caused the financial crisis are back. He’s worried about dropping savings rates in the US and the UK, and recently published a doomsday report about it.
2. Tesla’s surging stock crushed short sellers. Climbing roughly 6% for the day on a better-than-expected earnings report, the company continues to make bears pay.
3. It’s about to get a lot easier to bet on the backbone of the stock market. Blackrock iShares just filed a registration statement with the SEC for a fund designed to track stocks with a history of shares buybacks and dividend payments.
4. Insiders say Google was interested in buying Snap for at least $30 billion last year. Three people, including people inside and close to the company, separately confirmed they had heard the chatter and price tag, with one calling it an “open secret” among Snap’s upper ranks and certain tech industry circles.
5. Bitcoin cash may be a house of cards that’s going to come crashing down. The cryptocurrency’s price and high market cap might be the result of some technical issues underpinning the coin’s infrastructure.