Trump rally rolls on, stocks at new all-time highs
A monster week for the markets has stocks ending at new all-time highs. With record closes seemingly ever day, are giddy investors getting too euphoric here? Catch The Final Round with Jen Rogers, markets reporter Myles Udland, columnist Rick Newman, and Jeff Saut of Raymond James.
Winners and losers
Stocks ending the week on a down note include Restoration Hardware as weak current quarter guidance rattled investors, Alliance Data Systems as JPMorgan downgraded the CRM data company to neutral from overweight, and Duluth Holdings. Shares of the maker of Buck Naked underwear tumbling after reporting revenue and weak full-year guidance, citing a highly promotional retail environment.
Meanwhile, stocks ending the day in the green include Coca-Cola after CEO Muhtar Kent announced his resignation. He will be succeeded by COO James Quincey next year. Broadcom shares closing higher after the chip maker reported a beat on both its top and bottom lines, and announced a doubling of its quarterly dividend. And AstraZeneca. Shares of the drugmaker soaring after the FDA accepted its new bladder-cancer drug for priority review.
Looking ahead
On Wednesday at 2 p.m. Eastern, the FOMC will release its latest policy statement and interest rate decision, followed by chair Janet Yellen’s news conference. Yahoo Finance will bring you that decision live, as well as Janet Yellen’s full Q&A session.
On Thursday we’ll get CPI data for November. In the prior month core CPI, which backs out food and energy prices, rose 2.1% year over year.
Finally, on Friday the government will release housing starts data for November. In the prior month we saw over 1.3 million new starts.