U.S. stocks (^DJI, ^GSPC, ^IXIC) continue to trade in a tight range this week. What will break them out one way or the other? Yahoo Finance's Rick Newman and market strategist Peter Kenny have some ideas in the video above.
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Here are some of the other stories Yahoo Finance is keeping an eye on today.
A big day for IPOs
First Data Corporation (FDC), the largest U.S. IPO this year began trading earlier today. Priced at $16 a share, the stock opened at $16.39 before falling more than a percent and is now bouncing back again. Meanwhile, Albertsons (ABS) announced they would delay their IPO after seeing the market reaction to yesterday's surprise announcement from Walmart (WMT). Some reports suggest the grocery chain may try and reprice their IPO lower this evening and give it another try in the coming days.
FBI and fantasy sports
Last week news broke that an employee at one of the more popular daily fantasy football companies, Draft Kings, may have been involved in what amounts to an insider trading type scheme which netted him $350,000. Now the FBI is getting involved. According to a report in the New York Times, agents from the Boston field office have been contacting players on Draft Kings seeking information about accepting bets from players in states where the daily contests are prohibited.
Netflix shares slide
Shares of Netflix (NFLX) are down, after reporting weaker than expected Q3 earnings yesterday. The streaming giant is blaming slow U.S. user growth on the payment system's switch to chip and pin credit cards. Netflix claims that it was unable to process cards of some users, which led to, “involuntary churn."
No tip for you!
When you visit some of New York's most acclaimed restaurants, you may notice something is missing from the bill: the place to tip. Starting next month, restaurateur Danny Meyer is planning to eliminate tipping at all of his eateries.