Wall Street eyes fresh data after Greece deal and Yellen testimony
Markets focus on June housing starts and consumer confidence with an early July sentiment read. Forecasts point to a 1.12 million annual pace for June housing starts, a rebound from May's 1.04 million. CPI is expected to show a 0.3% rise, aiding Fed rate-hike prospects as sentiment climbs to 96.5 from 96.1.
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Greece
Athens
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SigFig reaches over half a million investors online
SigFig reports more than 500000 investors nationwide use its investment tracking service to manage portfolios online. The firm cites data analysis indicating total assets under management around 200 billion dollars across users.
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America
SigFig
Stock Ticker Summary From Day’s Trading Data
Stocks show mixed movement with several price shifts. The first asset trades around 21.15 with a 5.15 gain and a 32.2 percent indicator, recording a high of 22.99 and a low of 20.57. A second asset moves to 211.18, up 1.78 with a 0.8 percent indicator, trading between 214.14 and 209.32.
Netflix IPO Surges On First Trading Day
The discount retailer surged in its first day of trading after selling more than 8.9 million shares in an IPO for 16 dollars each.
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Fed
Alan Greenspan
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Yellen
Garmin Faces Survival Question as Phones Change Terrain
Garmin, the GPS maker, faces a market shift as smartphones erode demand for dedicated navigation devices. Executives weigh diversification strategies while investors seek clarity on long term growth, margins, and strategy amid rapid tech change.
Garmin Slashes Guidance as Mobile Rivalry Hits Shares
Garmin faced a hit as smartphone competition erodes demand for dedicated devices. Shares dropped over 20 percent in 12 months and 10 percent this year, after lowering Q2 revenue guidance to up to 775 million and profit to as low as 2.65 a share. Analysts rate the stock hold, with target price around 48.23 in 18 months despite modest long term upside.
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Garmin
Fitbit
Yellen’s 2014 warning lifts biotech stocks a year on
One year after Fed chair Janet Yellen called biotech valuations “substantially stretched,” the biotech sector led gains with the iShares Nasdaq Biotechnology ETF rising about 55 percent. Small-cap Russell 2000 up near 10 percent, and Global Social Media Index ETF up around 3 percent, amid broader market rally.
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Janet Yellen
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