Stocks (^DJI, ^GSPC, ^IXIC) weak here as the Fed hikes rates for the 3rd time in 6 months.
Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks on the move lower include Aldeyra Therapeutics as its experimental conjunctivitis treatment trial misses; Hawaiian Airlines as Stifel downgraded the stock sell on competition concerns; and Biogen, with shares under pressure today as the company’s CFO has left to join rival Alexion Pharmaceuticals.
Stocks in the green today include Brookdale Senior Living on reports that China’s Zhonhong group is close to buying the assisted living operator; Restaurant Brands on an Oppenheimer upgrade to outperform citing earnings growth from recently-acquired Popeye’s Louisiana Kitchen; and H & R Block, with shares of the tax preparer jumping as it reported its first annual profit increase in 3 years, and hiked its dividend.
Paypal CFO on what’s next for payments
The tech sector’s been the one to beat this year. But with FANG stocks grabbing all the headlines and the glory, digital payments company PayPal has tacked on another 25% to its share price. PayPal CFO John Rainey joins us now to discuss.
Looking ahead
At 8:30 a.m. ET, we’ll get jobless claims for the week. The Street’s expecting 243,000 initial claims.
At 9:15 a.m. ET, the Fed releases industrial production figures for May. The consensus estimate for production is a 0.2% rise month over month, a drop of nearly one percent.
And the first round of the US Open golf tournament begins at Erin Hills Golf Course in Erin, Wisconsin. Defending champion and World No. 1 Dustin Johnson tees off at at 9:35 a.m. ET alongside former winners Jordan Spieth and Martin Kaymer.
