Yahoo Finance Stocks stall as the Fed signals a 2016 rate hike is still in play
Stocks (^DJI, ^GSPC, ^IXIC) stall and Treasurys rally as the Fed signals it’s still open to a rate hike in 2016. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer.
Utilities power higher
The ultra low-rate environment is fueling a hunt for yield, which has led many investors to utilities. But with utilities up more than 15% this year and P/E’s over 15% higher than their historic norm, is it possible utility stocks are topping out?
Winners and losers
Stocks on the move lower today include Staples after posting revenue below expectations, as sales dropped for the 14th straight quarter, Lowe’s after the home improvement chain missed on both its top and bottom lines, and Barnes and Noble. Shares of the bookseller are down after the board ousted CEO Ronald Boire, saying that he was “not a good fit for the organization.”
On the flip side, stocks ending the day in the green include retailer Urban Outfitters after a big earnings beat on stronger sales, Valeant Pharmaceuticals after Morgan Stanley upgraded it to overweight, and Lumber Liquidators. Shares of the beleaguered flooring company are up after announcing a California court ruled in its favor against claims it didn’t warn consumers about formaldehyde in some of its products.
Can giving gifts actually give you a leg up in business?
If corporate gift giving makes you think of logo polo shirts and magnets, you’re doing it all wrong. Our guest, John Ruhlin, author of the book “Giftology,” has worked with Fortune 500 companies and just-launched startups to help them cut through the noise and grow their businesses with gifts.
Looking ahead
At 8:30 a.m. Eastern the Labor Department will release jobless claims for the week. The street’s expecting around 265,000 new claims.
And Fed watch continues, with speeches from New York Fed President William Dudley, San Francisco Fed President John Williams, and Dallas Fed President Robert Kaplan.
Finally, earnings season getting towards the end with big reports from Walmart, Gap, and Hormel Foods.
