Yahoo Finance Live anchors Akiko Fujita and Seana Smith detail several of the day's top headlines.

Video Transcript

AKIKO FUJITA: So let's get you caught up on some of the biggest headlines of the day. The Dow closing more than 400 points higher today, thanks in part to increased optimism on the debt ceiling. President Biden and House Speaker Kevin McCarthy both indicating that there is some progress being made on a deal that would keep the US from defaulting on its debt.

SEANA SMITH: One of the top trending stocks today was Target. The retailer's first-quarter results topped analysts' estimates, but there are signs that consumers are starting to be more cautious with spending. Target leadership also highlighted its struggles with theft, estimating that it's going to lose $500 million in profit this year, mostly due to organized retail fraud.

AKIKO FUJITA: And finally, a judge says disgraced Theranos founder Elizabeth Holmes must report to prison by May 30. This coming after losing her bid to stay out on bail while she appeals her case. Holmes, of course, was sentenced to more than 11 years in prison after being convicted on four counts of financial fraud.