Yahoo Finance Stocks pare gains as Bank of Japan, Fed decision weighs
It’s been a wild ride for stocks to start the week as traders brace themselves for big central bank decisions ahead. Catch The Final Round at 4p ET with Alexis Christoforous and markets correspondent Nicole Sinclair.
Winners and losers
Stocks starting the week in the red include WebMD as the medical advice site announced the departure of its CEO David Schlanger; MGT Capital as it revealed it received a subpoena from the SEC requesting certain information (the company says it does not believe it is or will be subject to any enforcement proceedings); and Community Health Systems, with shares slipping after the hospital operator confirmed it was exploring a sale of its business. Shares surged on Friday when reports originally surfaced.
Stocks in the green today include General Motors as Morgan Stanley upgraded the stock citing bullish trends from an auto market in transition; GoPro as the action camera maker revealed four new products, including a foldable drone; and Sarepta Therapeutics – the roller coaster for Sarepta shares rolls, spiking today after the FDA approved its Duchenne M-S drug. Shares had previously spiked then dipped on speculation surrounding whether a critic of Sarepta’s MS drug had left the FDA.
Jim Rogers on the Fed, markets
Legendary investor Jim Rogers is here. What are his thoughts on the Fed, and where investors should turn to next? We’ll find out.
Looking ahead
In the morning, we’ll get housing starts for the month of August. The consensus reading is for a seasonally adjusted 1.19 million new starts, slightly less than the prior month.
Of course the big FOMC September policy meeting begins tomorrow, leading up to the release of the policy statement on Wednesday afternoon followed by chair Janet Yellen’s press conference.
Finally, be sure to stay with Yahoo Finance tomorrow as we bring you exclusive interviews with legendary investors Warren Buffett, George Soros and more LIVE from the Concordia Summit in New York City.
