It’s the waiting game for stocks (^DJI, ^GSPC, ^IXIC) as the Fed meets and a huge earnings report greets investors after the bell. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Nicole Sinclair.
Winners and losers
Stocks getting hit include Mosaic as the fertilizer company badly missed on earnings; Archer Daniels Midland after the seed producer reported an earnings and revenue miss, and AMD, with shares of the chipmaker tumbling despite matching profit and revenue estimates. The problem: concerns over profit margin forecasts.
Stocks getting a boost today: Coach as profit for the handbag and accessories maker was boosted by a reduction in discounting; Hilton with the hotel operator upping its full-year guidance; and Angie’s List, with shares of the consumer review site popping after it agreed to be bought by IAC, which will spin out Angi’s List with IAC’s HomeAdvisor unit in an upcoming IPO.
Facebook earnings preview
The list of big tech heavyweights reporting earnings continues tomorrow with Facebook after the bell. Here with a preview Yahoo Finance’s Melody Hahm.
Looking ahead
At 8:15 a.m. ET, we’ll get ADP’s private employment report for April. The consensus estimate is for 170,000 jobs, a big drop from the prior month.
At 2 p.m. ET, the FOMC will release its latest policy statement. It’s widely expected it will hold rates steady—and if it doesn’t, buckle your seat belt.
Finally, after the bell on Wednesday, we’ll get huge earnings reports for Facebook and Tesla. We’ll have those for you LIVE.
