Jul 10, 2017

Snap shares fall below IPO price

Dan Primack, author of Pro Rata

Snap shares on Monday broke below the social media company's $17 IPO price for the first time, after several weeks of hovering around the mark, closing at $16.99 each. That price puts Snap's market cap at around $20 billion.

Why it matters: Breaking IPO price means that everyone who bought into the offering is now underwater (at least on paper). And it's been an even steeper fall for retail investors who purchased at the initial $24 per share open price.

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John Kelly defends James Mattis against Trump attacks

John Kelly in the White House in July 2017. Photo: Cheriss May/NurPhoto via Getty Images

Former White House chief of staff John Kelly defended James Mattis on Thursday after President Trump attacked the former defense secretary as "the world's most overrated general" and claimed on Twitter that he was fired.

What he's saying: “The president did not fire him. He did not ask for his resignation,” Kelly told the Washington Post in an interview. “The president has clearly forgotten how it actually happened or is confused."

Barr claims "no correlation" between removing protesters and Trump's church photo op

Attorney General Bill Barr said at a press conference Thursday that there was "no correlation" between his decision to order police to forcibly remove protesters from Lafayette Park and President Trump's subsequent visit to St. John's Episcopal Church earlier this week.

Driving the news: Barr was asked to respond to comments from Defense Secretary Mark Esper, who said Tuesday that he "did not know a photo op was happening" and that he does everything he can to "try and stay out of situations that may appear political."

Updates: Cities move to end curfews for George Floyd protests

Text reading "Demilitarize the police" is projected on an army vehicle during a protest over the death of George Floyd in Washington, D.C.. early on Thursday. Photo: Yasin Ozturk/Anadolu Agency via Getty Images

Several cities are ending curfews after the protests over the death of George Floyd and other police-related killings of black people led to fewer arrests and less violence Wednesday night.

The latest: Los Angeles and Washington D.C. are the latest to end nightly curfews. Seattle Mayor Jenny Durkan tweeted Wednesday night that "peaceful protests can continue without a curfew, while San Francisco Mayor London Breed tweeted that the city's curfew would end at 5 a.m. Thursday.