The end of year rally rolling on through 2017 as all three major averages break through to all-time highs. Catch The Final Round at 4p ET with Jen Rogers, editor-in-chief Andy Serwer, reporter Melody Hahm and reporter Jared Blikre.
Winners and losers
Stocks ending the week on a down note include G-III apparel after the Donna Karan and Calvin Klein Outerwear warned on current and full year earnings; GoPro after Longbow Research downgraded shares to Underperform and Ruby Tuesday, with shares of the casual dining chain tumbling after reporting a wider loss than expected and a revenue miss as well. Same-store sales for the quarter fell 4.1%.
Stocks getting a boost today include Gap after the beaten down retailer reported its namesake Gap and Old Navy units beat estimates for same-store sales; Expedia as Stifel upgraded the travel site to buy with a $130 price target; and Amgen, with shares on the rise after a federal judge sided with the drugmaker, ruling Sanofi and Regeneron had infringed on a patent for Amgen’s new cholesterol drug.
Looking ahead
On Wednesday, we get more big data for the oil trade with the EIA’s crude inventories report. Last week we saw inventories unexpectedly drop by 7.1 million barrels.
On Friday, we’ll get retail sales data for December. In November, the gauge only rose 0.1%. Economists are hoping the holiday period will show a bigger boost.
Also on Friday, earnings season unofficially kicks off with big reports from JPMorgan, Bank of America and Wells Fargo.
