Stocks (^DJI, ^GSPC, ^IXIC) take a breather near all-time highs, just as oil caps off a good week. But are investors in store for a scary market surprise? Catch The Final Round at 4 p.m. with Jen Rogers, Yahoo Finance editor-in-chief Andy Serwer, Cathie Wood of Ark Invest, and Yahoo Finance’s Jared Blikre.
Oil up after Saudi energy minister’s comments
Oil has had a big week, rebounding 5% from last week’s lows. Today it traded near a three-week intraday high. Is this the beginning of a big move back above $50 for crude, or just another false start?
Will tech power the next leg of the bull market?
Major tech names, including Google and Amazon, hit all-time highs this week. Meanwhile, the Nasdaq hitting a new all-time high yesterday. Is the broad-based tech rally a good sign?
The Race for 2016
A New WSJ-NBC news poll finds Hillary Clinton ahead in 4 battleground states. In two of those states — Virginia and Colorado — Clinton is ahead by double digits.
Meanwhile, are election politics affecting burger sales? That’s the case, according to Wendy’s CEO, who said people have “uncertainty” around the election, and it’s hurting his company’s sales.
Winners and losers
Stocks ending the week on a down note include Ruby Tuesday after the restaurant chain reported an earnings miss and weak guidance; pharmaceutical company Concordia International after missing earnings and suspending its dividend; and Wynn Resorts after reports its Macau resort will only get 150 gaming tables (about a third of what the company originally applied for).
Stocks ending the week in the green include Nordstrom on an earnings beat and strong guidance; oil refiner Delek Holdings after the New York Post reported Carl Icahn-controlled CVR Energy is planning a bid for the company; and Nvidia after the graphics chipmaker posted beats on both its top and bottom lines and reported its best sales in almost 5 years.
Here’s what will be making headlines next week:
- On Tuesday we’ll get an important read on inflation with CPI data for July. Last month the core reading, less food and energy, jumped 2.3% year over year.
- On Wednesday the FOMC will release the minutes from its July meeting. The street will be looking for any clues as to where board members are leaning.
- Finally, IEX, the exchange featured in Michael Lewis’ “Flash Boys,” opens as the newest public exchange on Friday. The platform will phase in new securities over the next two weeks.