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November starts with sharp gains for stocks

Monday, November 02, 2015 - 01:13

Stocks were off to a strong start in November, after a rebound in the energy and heathcare sectors. Bobbi Rebell reports.

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Wall Street started November with October's positive momentum. The beaten down energy and healthcare sectors led the markets higher. A slew of deals led by Visa also spurred buying, says Peter Costa of Empire Executions. SOUNDBITE: PETER COSTA, PRESIDENT, EMPIRE EXECUTIONS (ENGLISH) SPEAKING: "A lot of people are wanting to get in the market. They don't want to miss one of these potential takeover targets. So, I think, you'll see a little bit of speculation on traders' parts there as well." Visa is buying its former European subsidiary, Visa Europe, for $23 billion, paying more than some analysts expected. Shares fell. Hewlett Packard Enterprise CEO Meg Whitman rang the opening bell to mark the split of Silicon Valley pioneer Hewlett-Packard into two companies. Shares of HP, which houses the legacy printer business, shot sharply higher. Shares of Enterprise, which handles services, fell. Chipotle shares lost some of their sizzle. The restaurant chain closed its restaurants in Seattle and Portland because of a reported outbreak of E. coli bacteria. Investors shrugged at the mixed economic data. Manufacturing activity slipped in October. Construction spending rose in September. In Europe, strong data from business surveys in the euro zone lifted stocks. But the FTSE 100 finished flat.

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November starts with sharp gains for stocks

Monday, November 02, 2015 - 01:13