Yahoo Finance Stocks slide as the Fed meeting looms
Stocks slide into the red to cap a volatile week. With the Fed meeting looming, is “risk off” the name of the game? Catch The Final Round at 4 p.m. with Jen Rogers, Yahoo Finance editor-in-chief Andy Serwer, markets correspondent Nicole Sinclair and Bruno del Ama, CEO of Global X Funds.
Winners and losers
Stocks ending the week in the red include Citigroup after a downgrade to neutral from Goldman Sachs, Novavax after the biotech firm announced unfavorable results from two clinical trials, and Oracle. Shares lower after the enterprise software giant reported earnings and revenue below expectations, and EPS guidance that missed the mark.
On the flip side, stocks moving higher today include Depomed after Reuters reported the drug maker is planning to explore a sale following pressure from activist investor Starboard Value, GoPro after Bank of America Merrill Lynch initiated coverage on the action camera maker with a buy rating, and Twitter. Shares of the social media company are surging after a positive reception of its NFL live stream. Analysts are hoping this effort will bolster the company’s ad revenue.
Looking ahead
Starting Monday morning, Yahoo Finance will have the exclusive live stream of the 2016 Concordia Summit in New York, NY. Speakers including Warren Buffett, T Boone Pickens, and George Soros to discuss a wide range of topics, from the markets, energy, the refugee crisis, and the election. Coverage extends through Tuesday.
On Wednesday, its the big one, the FOMC policy announcement. Stick with Yahoo Finance as we’ll have the Fed’s interest rate decision live at 2 p.m. Eastern, followed by Janet Yellen’s press conference.
And on Friday, we’ll get an important read on the manufacturing sector with PMI’s Flash Index reading for September. In the prior month the gauge registered a 52.1 reading.
