SAN FRANCISCO (KRON) — On today’s edition of Rob Black’s Winners and Losers, our financial expert Rob Black and KRON 4’s Mark Danon talk jobless claims, Square Inc’s IPO and oil prices.
The number of Americans filing for unemployment benefits fell last week, pointing to a fairly robust labor market.
Square Inc priced shares at $9 for its initial public offering, about 25 percent less than it had hoped, as it struggled to win over investors skeptical about its business and valuation. The way that Square was valued as a private company is they were just going to disrupt everything and change payments. And the reality is not that.
Crude oil fell 77 percent from its highs. Technicals say that in a good, solid pullback we should see an equal-leg push in the current move lower. A $26 print on crude “is entirely possible in this environment in strengthening dollar, in a potentially falling stock market in the near future.”