Stocks cling to gains after Yellen remarks
Stocks clinging to gains here as Janet Yellen says gradual rate hikes are still the way to go. Plus – Nike earnings out after the bell, we’ll have it for you. And – another tech upstart throws its hat into the electric car ring. Should the automakers, including Tesla, be concerned. Plus it’s time for Trade school – legendary Trader Peter Borish tells you how to weather this market. Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance markets correspondent Nicole Sinclair.
Winners and losers
Stocks in the red today include Axovant (AXON) following disappointing results for its Alzheimer’s treatment, Shake Shack (SHAK) as as Wedbush downgraded shares to ‘neutral’ citing cannibalization from new stores, and Darden Restaurants (DRI) – shares dipping despite an earnings beat as its Olive Garden chains’ comparable sales missed estimates.
Stocks in the green today include Ascena (ASNA) Retail Group as the Ann Taylor parent reported a surprise profit, Red Hat (RHT) as the Linux software distributor reported a profit and revenue beat, and Nvidia (NVDA) – shares getting a lift today after several Chinese manufacturers announced they would be using Nvidia chips in their data centers.
Veteran Trader Borish on the markets
If it’s September it means its time to go back to school – but this time its Trade School – and we’re bringing in veteran trader and Quad Capital Chief Strategist Peter Borish to help us navigate these markets.
