Day one begins in earnest for President Trump. Will his policies keep the post-election market (^DJI, ^GSPC, ^IXIC) chugging higher or mired in uncertainty? Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks starting the week in the red include Halliburton after revenue missed estimates and it noted weakness in international markets; UnitedContinental after a major computer outage grounded flights for several hours last night and warned of continued delays; and Qualcomm, with shares getting zapped as investors weighed the gravity of Apple’s lawsuit against the chip maker, accusing it of anti-competitive behavior. Qualcomm says the claims are baseless.
Stocks getting a boost today include Wynn Resorts as Macau gaming revenue estimates for January were running 7.5% higher; Cynosure as Bloomberg reports the medical equipment maker was weighing strategic options; and Kate Spade, with shares climbing higher as the luxury handbag maker is attracting interest from Coach and Michael Kors as it pursues a sale, according to Bloomberg.
Gabriela Santos on rising volatility
Don’t get used to this recent sideways market action. Our next guest expects volatility to pick up. But she doesn’t think you should panic. Instead investors need to be more selective. Gabriela Santos, global market strategist at J.P. Morgan Asset Management joins us now.
Looking ahead
At 9:45 a.m. ET, we’ll get PMI’s flash manufacturing index for January. The Street will be looking to build off of December’s 54.2 reading.
At 10:00 a.m. ET, we’ll get existing home sales for the month of December. The consensus estimate is for a seasonally adjusted 5.538 million homes sold, a dip from the prior month.
Plus, the Academy of Motion Picture Arts & Sciences will announce Oscar nominations. Movies expected to be featured include 20th Century Women, Arrival, Fences, Hidden Figures, Manchester by the Sea and many more.
