Equity Handover: Facebook Gains 4% on Cryptocurrency Optimism

See a summary of the top stock themes and trends from today's US session!

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Headlines

  • After trading in positive territory for the entire day, US indices closed essentially flat in a quiet session.
  • Communication Services (XLC) was the best performing sector on the day; Financials (XLF) were the weakest.
  • US macroeconomic data:
    • The Empire Fed Manufacturing Index (June) dropped to a nearly 3-year low at -8.6.
    • The NAHB Housing Market Index (June) dropped to 64, below 67 expected
  • Stocks on the move:
    • Facebook (FB) rose 4% ahead of the tomorrow’s release of the whitepaper for its cryptocurrency Libra coin
    • Netflix (NFLX) tacked on 3% after an analyst at Piper Jaffray issued a bullish forecast for US subscriber growth.
    • Array BioPharma (ARRY) rocketed 56% after agreeing to be acquired by Pfizer for $11.4B.
    • Auction house Sotheby’s (BID) rallied 59% in a $3.7B takeover deal from BidFair USA.

*There are no high-impact corporate announcements expected during tomorrow’s Asian session.*



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