The markets were higher today, setting new records despite the deadly shooting in Las Vegas. The Dow 30 hit a new all time high again today adding 151. The S&P 500 also saw a strong start to the week with a gain of 9. The Nasdaq 100 was volatile early in the session but closed higher by 20. Tomorrow investors will have a rather light economic news day with only vehicle sales coming out during the day.
Sturm Ruger (NYSE: RGR) and other gun manufacturers were higher today following news of the deadly shooting in Las Vegas. This is typical after events like this as everyone tends to think that stricter gun laws will follow these shootings. Shares of Ruger were higher by 3.48%, and thanks to today's move are now higher on the year.
General Motors (NYSE: GM) shot higher by 4.38% today as an analyst posted a note after meeting with the automaker's management. Analyst Rod Lache from Deutsche Bank wrote that "self-driving cars will be on the road much sooner than expected" and thinks the automaker is well positioned to benefit. The analysts firm currently has a price target of $51 and shares are trading around $42. Shares are already higher by 20% on the year.
Valeant (NYSE: VRX) shares were higher by 2.23% today as the company announced plans to buy up to $1 billion worth of outstanding debt "to reduce its massive debt burden." The Canadian drug maker has said that it "expects to top its goal", that they announced last year, of paying down more than $5 billion of debt by February of next year. Shares have hovered around flat nearly all year.