US equities ignore the fall in European markets and finish higher for the day. I told you it looked like we could see a turnaround!
Have a good evening all.
Uber and Lyft have won a last-minute reprieve to allow them to continue operating as gig companies in California.
Earlier Lyft had threatened to suspend operations in the state if the court order was upheld.
Both Lyft and Uber’s share price closed over 5% higher after the news.
Tesla’s share price has climbed another 6% higher today. It briefly touched the $2,000 level before retracing back down to where it is now trading at $1,991.
Lyft has announced that at 11:59 pm PDT today, its rideshare operations in California will be suspended in response to a court order that says employees need to be classified as employees and not contractors.
Lyft shares are currently down 8.49% at $25.75.
Update 19:32: Lyft’s share price has staged a turnaround and is now trading 1% higher on the day, trading at $28.44.
So, European indices close the day lower. However, US indices look like they could stage a turnaround. The Nasdaq and S&P 500 are now up on the day with the Dow down just 0.02%
American Airlines shares are down over 2% at $12.40 after the company announced they will be suspending service to 15 small US cities in October after the terms of its federal air requiring the flights expires.
It’s looking like a day for bears, especially in European equities, although there is still time for a turnaround.
OpGen Stock has jumped higher and is currently trading at $3.18, +55%. Here is the full story…
BP shares are down 1% to 280.55p as oil prices slip.
Intel Corp shares are up 3.85% at $50.19 premarket after the company initiated a $10 billion share buyback plan.
Redx Pharma +21%
Amigo Holdings +20%
The Fulham Shore +13%
Frasers Group +15%
Lleidanetworks Serveis +5%
As expected European equities start the day lower.