Yahoo Finance Wall Street drops after three-day rally, crude tumbles
After a wild week for the markets, stocks cool off after notching a three-day winning streak. We break down the week that was on Wall Street. Plus, IPOs are back in vogue on Wall Street. Will we finally see Uber and Airbnb take the plunge? And, round one of Trump versus Clinton is coming up on the debate stage. We’ll have why markets may have rooting interest in one candidate. Catch The Final Round at 4 p.m. with Jen Rogers, Yahoo Finance editor-in-chief Andy Serwer, markets correspondent Nicole Sinclair, and Cathie Wood of Ark Invest.
Winners and losers
Stocks ending the week on a down note include Houghton Mifflin Harcourt after the publisher’s CEO Linda Zecher resigned after five years at the helm; Enphase Energy as the solar company announced a secondary share offering; and Oshkosh, with shares of the specialty truck and vehicle maker tumbling after the company released fiscal 2017 profit guidance that missed the mark.
Shares on the move higher include Imperva on a Bloomberg story claiming the cyber-security firm is drawing interest from Cisco and IBM, BATS on reports the exchange operator is in merger talks with the CBOE, and Endo International, with shares of the drug maker higher as CEO Rajiv De Silva steps down, signaling a shift away from specialty branded drugs. De Silva was a former senior exec at Valeant.
Looking ahead
On Wednesday, we’ll get durable goods orders for August. In the prior month we saw the gauge jump 4.4%.
On Thursday, we’ll get a third and final estimate for second quarter GDP. The last estimate notched a rather anemic 1.1% change.
Finally, on Friday we’ll get personal income and outlays for August. The Core PCE figure, the Fed’s preferred measure of inflation, only rose 1.6% in the prior month.
