Stocks on edge as Trump calls off the summit with North Korea. Plus, Gap earnings any minute now, we’ll have them for you. And, the week in Trumponomics — how will we grade Trump after his latest gambit with auto tariffs? Plus, Torsten Slock is here to talk the economy, the Fed, and what to watch for as we head into midterms. Catch The Final Round at 3:55 ET p.m. with Jen Rogers, Yahoo Finance markets correspondent Myles Udland and Rick Newman.
Winners and losers
Stocks in the red include Hormel as the food producer missed on EPS and revenue, citing higher freight and commodity costs; Deutsche Bank, as the new CEO looks to cut expenses and restore profitability by trimming its global staff by 7,000; and Best Buy, with shares sliding here despite a strong quarter as Wall Street was looking a hike to its full year forecast. Note, before today Best Buy shares were near an all-time high.
Williams-Sonoma as the high end kitchen supplies retailer reported first-quarter earnings and revenue that easily beat analysts expectation; Babcock & Wilcox as it confirmed Steel Partners Holdings offered up to $485 million to buy the power generation company; and L Brands, with shares climbing as the Victoria’s Secret parent reported $2.6 billion in sales, up 8 percent from a year ago. However the company issued weaker-than-expected current-quarter earnings guidance.