Yahoo Finance Stocks take a breather following huge week
The market’s dramatic rally to all-time highs takes a breather as stocks ease off into the close. Will a huge week of earnings ahead keep the good times rolling? Catch The Final Round at 4 p.m. ET with Justine Underhill, Yahoo Finance’s editor-in-chief Andy Serwer and columnist Rick Newman, and Cathie Wood of Ark Invest.
Winners and losers
Stocks in the red today include Chipotle on a Morgan Stanley downgrade, AMC Networks after UBS downgraded a slew of media companies and issued a sell rating for the “Walking Dead” network, and Norwegian Cruise line, with shares dropping along with other travel stocks following yesterday’s attack in France.
Stocks on the move higher today include H&R Block as Piper Jaffray reiterated its “outperform” rating, Rite Aid up on reports its suitor Walgreens is working with the FTC to get a merger approved, and Herbalife. The nutrition company reached a deal with the FTC, agreeing to pay a $200 million fine. But importantly, the FTC determined Herbalife is not a pyramid scheme, dealing a crushing blow to Bill Ackman and another win for Carl Icahn.
The economy suddenly looks great
The US economy is another bright spot, with a strong retail sales report today and a strong jobs report last week. Rick Newman explains whether the US economy will power the next leg of the bull market.
Looking ahead
Earnings season kicks into high gear with reports from the likes of Netflix, Starbucks, Microsoft, Visa and our own parent company, Yahoo.
We’ll get a big read on housing in the US with starts on Tuesday and existing home sales on Thursday. Analysts are expecting a slight uptick in those starts and a slight dip in sales.
Finally, the 2016 Republican National Convention kicks off in Cleveland, Ohio. Delegates from across the country will finalize the GOP platform and formally select their presidential nominee. Donald Trump is expected to accept the nod next Thursday.
