STOCKS RISE: Here's what you need to know

US stocks closed higher for the first time in three sessions, reversing some of Friday’s losses that were led by the tech sector.

Here’s the scoreboard:

  • Dow: 21,330.85, +95.18, (0.45%)
  • S&P 500: 2,441.17, +11.78, (0.48%)
  • Nasdaq :6,222.95, +47.49, (0.77%)
  1. Sears is cutting 400 jobs at its corporate offices as it works towards reducing costs by $US1.25 billion in fiscal 2017. The cuts will primarily affect workers at Sears’ headquarters in Hoffman Estates, Illinois, the retailer said Tuesday. Also, Sears Canada said it was running out of cash and revealed there’s “significant doubt” it can stay in business.
  2. Uber CEO Travis Kalanick will take a leave of absence from the company to “work on myself” and to deal with a recent family tragedy, according to an email he sent to the company. The CEO had been weighing whether to step away from the company, which has been grappling with a series of crises.
  3. Marissa Mayer has resigned as Yahoo’s CEO since Verizon’s $US4.48 billion acquisition of Yahoo has closed. After running the company for about five years, she’ll walk away with a $US23 million package.


BANK OF AMERICA: There’s one big difference between now and the 1999 tech bubble

A cryptocurrency for weed is soaring in value after it sponsored Dennis Rodman’s trip to North Korea

Traders haven’t been this nervous about tech stocks in 14 years

Traders are loading up on bets against Apple

GOLDMAN SACHS: Bitcoin is looking ‘heavy’

The Trump administration sure sounds like it’s getting ready for a government shutdown in September

TIM COOK: There is a ‘major disruption looming’ for autonomous driving

NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.