Here's what happened on Wall Street on Monday, Nov. 6.
The Dow Jones Industrial Average and S&P 500 both stumbled out of the gate Monday morning, while the Nasdaq was able to open in the green and reach a new all-time record high.
The Dow and S&P were able to right the ship in afternoon trading, and all three major indices closed the day in record territory Monday.
New Phishing Scheme Targets Netflix Users
Hackers looking to gain credit card info from Netflix (NFLX) users are sending an email replete with the company's logo asking them to fix a billing problem by re-entering their credit card information.
Te email claims that the users' account has been suspended due to the billing mixup.
The new scheme follows a more rudimentary email phishing scam that targeted Netflix users in September.
Fox Was Back Trading After a Short Break
Trade for the security was temporarily halted after it shot up more than 4%. Trade has now resumed.
The talks are reportedly not ongoing.
NFL Continues to Struggle on Sunday Nights
NFL ratings for week 9 were down from last week when competition from the World Series was used to explain the disappointing numbers.
About 11.67 million tuned in to watch the Oakland Raiders defeat the Miami Dolphins. While Sunday night's ratings easily beat the competition, the total was down about 1 million viewers from the previous week's season low.
Target Takes a Break From Black Friday Madness
Target (TGT) announced that its Thanksgiving hours will run from 6 PM to 12 AM with the store reopening at 6 AM Friday, foregoing the often chaotic post-Thanksgiving and pre-Black Friday shopping session.
"We know that shopping Black Friday deals at Target is an annual tradition for many of our guests across the country. Our hours for this year ensure we're ready with great deals for those guests who want to shop following their Thanksgiving dinner, while also giving our teams a chance to recharge and prepare our stores before we open on Friday to greet guests with even more holiday savings," Target Executive VP Janna Potts said.
California to Introduce Recreational Cannabis Sales and Taxes in 2018
As California rolls out legal recreational pot in 2018, smokers can expect to see an increase in price as taxes and fees are levied on the drug, the Los Angeles Times reports.
Currently, a small bag of weed costs about $35, enough to roll five or six small joints. However, smokers could see that price balloon as much as 70% as California looks to tap into a market that some estimate could reach $1 billion in sales soon.
Prices for medical marijuana are not expected to increase as much as the price of recreational marijuana.
Intel and AMD to Partner on Laptop Chip
Intel (INTC) and AMD (AMD) announced a joint project on a laptop chip that combines Intel's processing with AMD's graphics card. The move is a partnership between a couple of decades-old rivals as they look to stave off competition from chipmaker Nvidia (NVDA) .
Nvidia has about 80% market share for graphics chips, according to the Wall Street Journal. Intel and AMD insisted that their joint venture would not cannibalize their other stand-alone chip efforts.
William Dudley to Retire Ahead of Term's End in 2019
New York Federal Reserve President William Dudley will retire in mid-2018, before his term ends in January 2019, according to CNBC. Dudley is expected to retire sometime in the spring or summer when his replacement is found, sources told the news organization.
Dudley, 64 years old, has been president of the bank since 2009 and helped oversee one of the largest interventions by the government into the financial market during the recession crisis.
Dudley presided over the New York while it purchased assets as part of the Federal Reserve's quantitative easing program that increased its balance sheet to nearly $4.5 trillion in recent years.
Dudley's retirement is reportedly not tied to President Donald Trump's recent decision to name Fed Gov. Jerome Powell to lead the Federal Reserve over incumbent Janet Yellen.
CVS Blames Lower Profit Forecast on Hurricane Season
Shares of CVS (CVS) were climbing slightly after the company reported a third-quarter profit of $1.50 per share, topping analyst estimates by a penny, on revenue of $46.18 billion that was in-line with expectations.
CVS lowered its full-year earnings forecast to between $5.87 per share and $5.91 per share from its previous view between $5.83 and $5.93 per share. Analysts are expecting the company to earn $5.88 per share this year.
Sprint Struggles After T-Mobile Merger Falls Through
Softbank hoped to buoy the stock by increasing its stake in Sprint to just under 85% from 83% while also saying that "the door is open" for a merger between the two companies as long as its management rights remained intact.
T-Mobile shares were down nearly 5% premarket.
Nasdaq and Dow Jones Industrial futures contracts were pointed higher Monday morning while S&P 500 futures lagged slightly ahead of the opening bell.
Markets in Asia were mixed Monday with the Nikkei and Shanghai Composite rising 0.04% and 0.49% respectively, while the Hang Seng in Hong Kong fell 0.02%.
In Europe, markets were rattled following the arrest of Saudi billionaire Prince Alwaleed bin Talal in an anti-corruption crackdown in Saudi Arabia. Alwaleed owns stakes in companies such as Apple (AAPL) , Twitter (TWTR) and Citigroup (C) .
The DAX in Germany, FTSE 100 in the U.K. and CAC 40 in France all declined Monday morning.
Shares of Qualcomm (QCOM) were up more than 3% premarket after communications chipmaker Broadcom offered $103 billion, or $70 per share, to buy the company. Including debt, the bid is valued at about $130 billion. The offer is a nearly 28% premium over Qualcomm's previous closing price.