Best Buy, Volatility Vanishes, Gas Up
Another trading week starts and stocks are up. Making waves are Best Buy (BBY), gas prices increasing, and the "Volatility ETF" the VXX keeps falling.
HOLY MARY PASS BY BEST BUY
Best Buy (BBY) worth $26 a share, great real. Co-founder Richard Schulze wants to take Best Buy private only months after leaving as the company's chairman. BBY shares are now cooling down to $19.50 range for a gain of 11% on the news. Best Buy got as high as $21 a share today but its a pipe dream considering its a dying brick and mortar business. Since March BBY shares have lost 30%.
The iPath S&P 500 VIX Short Term Futures TM ETN (VXX) fell to a new 52-week low today of $11.82. That's an impressive decline of 45% since the start of June. Volatility is at a new low for 2012, either its a wonderful thing or the calm before the storm. Place your bests accordingly.
GAS PRICES HIGHER
Nation wide gasoline prices are on the way up and at around $3.62 a gallon the pump. Gas prices are up almost 13 cents on average from last week for Americans. The LA Times reports today Illinois residents are paying an average of $4.06 a gallon. Michigan and Indiana are not far behind at averages of $3.994 and $3.919 a gallon, respectively.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Questions Grow Over Devin Nunes' Mystery White House Visit | ZeroHedge
- RBOB Tumbles After Lower Than Expected Gasoline Draw | ZeroHedge
- Artist's Impression Of GOP Obamacare Repeal Negotiations | ZeroHedge
- DNC Asks Entire Staff For Resignation Letters | ZeroHedge
- A Change in the Wind | Financial Sense
- Congress Poised To Obliterate Broadband Privacy Rules | ZeroHedge
- JPM: "Until Market Abandons Hope For A Tax Deal, There Will Be No Significant Weakness" | ZeroHedge
The most relevant financial news and articles from the Internets
- Here are the most popular HBO shows in every state | Business Insider
- Chrissy Teigen fires away at Fox News: 'Words cannot explain how much... | Business Insider
- Uber has suspended its self-driving-car tests in... | Business Insider
- Which Is America's Best City? | BusinessWeek
- 'Trump is pushing China and Europe together':... | Business Insider
- A Mediterranean food chain that people are obsessed with is about to take over... | Business Insider
- Tomi Lahren has reportedly been barred on permanent basis from her network after coming... | Business Insider