00:00 Speaker A
It’s time for Yahoo! Finance’s market minute. S&P 500 and the Nasdaq rising after President Trump’s announcement that the US secured a trade deal with Vietnam, overshadowing weak labor market data. Investors anticipating more trade news ahead of the July 9th deadline. We’re seeing shares of apparel and footwear retailers Nike, Lululemon, and On Running pop on the trade deal news. President Trump’s initial proposal of a 46% tariff on imports from Vietnam was expected to derail the supply chain of the industry which relies heavily on the nation’s factories to manufacture goods.
00:39 Speaker A
And health insurance stocks are falling after Centene pulled its full year guidance and warned that earnings will likely fall short of expectations. This move adding to negative sentiment around the sector as the health care industry faces pressure from policy changes and spending cuts. Oscar Health receiving a downgrade today on these concerns.
00:57 Speaker A
And that’s your Yahoo! Finance market minute. Scan the QR code below to track the best and worst performing stocks of the session.