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Brexit relief drives U.S. stocks

Monday, June 20, 2016 - 01:15

U.S. stocks moved higher on Monday as new polls indicated British voters are more likely to choose to remain in the European Union. Bobbi Rebell reports.

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U.S. stocks switched gears after last week's steep losses, moving higher on new polls showing a higher possibility that Britain would remain in the European Union. Ken Kamen, president of Mercadien Asset Management: SOUNDBITE: KENNETH KAMEN, PRESIDENT, MERCADIEN ASSET MANAGEMENT (ENGLISH) SAYING: "It seems to me that undecided people at this point are not going to break for a radical change. If you haven't made up your mind, and you haven't, you know, been convinced yet, chances are you are probably going to be a remain vote. So, I've been in that camp for a while. So, I think, the market is kind of catching up to that reality." European stocks posted their biggest rallies since August on the renewed hopes that Britain would stay in the European Union. JD.Com stock soared after Wal-Mart said it would sell its Chinese online business to the e-commerce company. Starbucks customers, who feel they didn't get the full latte, will be allowed to sue the coffee giant and move forward with their proposed nationwide class action suit. A federal judge ruled in favor of two Starbucks customers who accuse the chain of overcharging customers by serving lattes that were 25 percent smaller to save money on milk. The judge did not rule on the merit of the case. Starbucks said the lawsuit is without merit.

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Brexit relief drives U.S. stocks

Monday, June 20, 2016 - 01:15