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Stocks drop as Fed signals June rate hike still possible

Yahoo Finance

Surprise on Wall Street as the Fed signals a rate hike in June is not off the table.  Plus - a TSA nightmare - airport security lines have angry passengers waiting for hours - will this affect the airlines and travel sites? And - the Donald boasts his cash flow is "tremendous," but does Hillary Clinton actually have him beat? We explain. Catch The Final Round at 4p ET with columnist Rick Newman and Brittany Jones-Cooper.

Winners and losers

Stocks in the red today include Spam-maker Hormel despite raising its guidance, Discovery Communications slipping after Citi downgraded the stock, and Target - shares of the retailer slashed after it gave a weaker than expected profit forecast and warned same store sales could be flat.

Stocks swinging higher today include JPMorgan after it upped its dividend, grain-handling company Andersons surging after Phil Falcone's HC2 holdings made an unsolicited bid for the company, and Tesla - shares energized after Goldman upgraded the stock, claiming the street was discounting the company's 'disruptive potential' regarding the Model 3.

Has Wall Street gained at Main Street's expense?

Economic policy has been front and center in the 2016 presidential race...from regulation to immigration to jobs overseas. But could our economic issues be far deeper and more systemic than what's being discussed? Joining us now is Rana Foroohar, Time Magazine Economics Columnist and author of the new book "Makers and Takers - the Rise of Finance and the Fall of American Business."

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Looking ahead

  • We'll get more data on the employment situation in America with weekly jobless claims - the consensus is for 275,000 new claims.

  • Fresh of the FOMC minutes that spooked the street, at 10:30a ET New York Fed President William Dudley will be discussing trends at the Fed with a Q&A to follow. We'll see how the markets react...

  • Finally - huge earnings reports starting off with the world's biggest retailer, Walmart, as well as Dick's Sporting Goods and Advanced Auto Parts.