Markets on edge as Comey testimony looms
Stocks (^DJI, ^GSPC, ^IXIC) finishing the day mixed as the 10-year continues its recent rally and oil prices jump higher. Catch The Final Round at 4 p.m. with Myles Udland and Yahoo Finance markets correspondent Nicole Sinclair.
Winners and losers
Stocks getting hit today include Conn’s as the electronics retailer posted a 15% drop in same-store sales; Lands End as the apparel retailer missed on both the top and bottom line; and Signet Jewelers – shares down as the Kay Jewelers parent announced its COO was leaving the company.
Stocks in the green include Acorda Therapeutics as the drugmaker reported positive results for its new Parkinson’s treatment; Tenet Healthcare as Wells Fargo upgraded shares to outperform; and G-III Apparel, with shares of the company behind Calvin Klein and Donna Karan surging after it beat on revenue and raised its full-year forecast, claiming its portfolio of brands are performing in a challenging environment.
Will markets sour on Trump?
Stocks are down again today, but still near recent all-time highs. What’s next for investors as Washington uncertainty builds seemingly every day? Joining us now to discuss is Mark Spellman, portfolio manager at Alpine Funds.
Looking ahead
At 10:30 am. Eastern, big data for the oil trade with the EIA’s weekly crude inventory report. Last week inventories fell by 6.4 million barrels, the eighth-straight weekly drop.
And we’ll get some more earnings reports with Navistar before the bell and Tailored Brands and DavidsTea after the close.
Finally, Fortune magazine releases its Fortune 500 list of America’s top companies by Revenue. Last year the list was topped by Walmart, followed by ExxonMobil, Apple and Berkshire Hathaway.
