The markets attempted to put Brexit aside for a day and resume normal trade. The buyers took their chances today after the last 2 days sell off. This caused a rally in the broad markets which all closed well in the positive today. The Dow 30 added 1.57%, the S&P 500 popped 1.78%, and the Nasdaq 100 performed the best, gaining 2.12%. If the market is truly getting back to normal we will notice activity surrounding the econ. numbers due out in the morning. Home sales and Crude oil inventories are up tomorrow.
Recent IPO Twilio (NASDAQ: TWLO) burst to new highs today after making its public debut last week. Since pricing at $15, shares have shot up over 100%. Some investors say Twilio's success could prompt other silicon valley tech company's to go public and boost the IPO market. Shares closed up 9.80% today.
Dow Chemical (NYSE: DOW) continued its waterfall drop today losing another 2.04% as the company says they will close manufacturing facilities in the US and abroad. The company also plans to slash 2,500 jobs as it completes its merger with DuPont (NYSE: DD). Dow Chemical expects to finish the closings and cuts within the next two years.
Dick's Sporting Goods (NYSE: DKS) shot up 3.59% today as Goldman Sachs added Dick's Sporting Goods to its Conviction Buy List with the expectation that the stock will benefit from Sports Authority's bankruptcy. The investment firm reiterated a buy rating on the stock with a price target of $53 per share.
Lending Club (NYSE: LC) added 7.21% today ahead of its annual meeting today. Lending Club is planning to cut 179 jobs as a result of lower loan volume. Shares remain near all time lows, and volume remains high.