Stocks drop on mixed earnings, rising yields
The Dow is slipping from all-time highs as earnings disappoint and the bond market takes charge. Plus, tech will drive the day tomorrow as huge earnings await. We break down what Amazon, Google and Microsoft could have to say. And, is all not well in the house of Tesla? We break down two big stories knocking shares today. Plus Nobel laureate Robert Shiller tells us why he’s cautious on stocks and what he thinks of bitcoin. Catch The Final Round at 3:55 p.m. with Jen Rogers, Yahoo Finance markets correspondent Myles Udland and Joe Fahmy of Zor Capital.
Winners and losers
Stocks in the green today include Northrop Grumman as the defense name beat on earnings and upped its full-year outlook; GrubHub as the Seamless parent current quarter revenue forecast topped estimates as ‘active diners’ rose 28% from a year ago; and Nike, with shares getting a lift as CEO Mark Parker says at Nike Investor Day that it will see “high single-digit growth” over the next five years.
Stocks in the red today include Chipotle after a huge earnings miss as comp sales fell as well; AMD, as the chipmaker, who’s stock is up 90% over the past year, disappointed investors with its gross margin guidance; and Tesla, with shares dropping midday as Mitsubishi FUSO, a division of Daimler, unveiled an electric semi-truck today, ahead of Tesla’s planned heavy duty truck reveal later next month.
