David Stockman Interview begins at 9:50
Stocks up on eve of Fed decision
Wall Street is a bit on edge as Janet Yellen’s big day is almost here. Will the market get what it wants, or will Fed give us a September surprise? Catch The Final Round at 4 p.m. ET with Jen Rogers and markets correspondent Nicole Sinclair.
Winners and losers
Stocks trading in the red today include Ascena Retail as the Ann Taylor parent issued weaker than expected guidance for fiscal 2017; Hortonworks as the office-furniture maker cut its outlook citing things like subdued small business confidence, and SeaWorld, with shares of the troubled theme park operator diving after it announced it was suspending its dividend. The suspension comes after SeaWorld ceased breeding killer whales at its parks.
Stocks pulling higher today include Marriott as Chinese regulators approved its Starwood merger, Royal Caribbean as the cruise operator hiked its dividend by over 25%, and Tobira Therapeautics, with shares going nuclear after the biotech company agreed to be purchased by Allergan for $1.7 billion. Tobira focuses on treatments for a fatty liver disease called NASH.
David Stockman on Trump
David Stockman is here, and he’s no fan of Donald Trump. The Washington insider and Wall Street vet shares on why Trump will bring ruin to the markets.
- In the morning, we’ll get a read on the housing sector with MBA’s mortgage applications report for the week. In the prior week we saw purchase applications climb 9%.
- We’ll get crucial data for the oil trade with EIA’s crude inventory status report. Last week we saw inventories fall by 600,000 barrels.
- And, of course, at 2:00 p.m. ET tomorrow, the FOMC will release its policy statement and interest rate decision. Stick with Yahoo Finance as we’ll have that for you live with full analysis, followed by Janet Yellen’s news conference.
Source: Stocks up on eve of Fed decision