Tech is front and center again as the Nasdaq (^IXIC) hits another record high. What’s powering the move? Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.
2017 Political-Financial Road Map
Corporate defaults, market volatility and a resurgence in gold (GLD) —that’s what’s in store for 2017, according to our guest Nomi Prins, a former managing director at Goldman Sachs and author of the book All the Presidents’ Bankers.
Winners and losers
Stocks ending the day on a down note include Williams Companies (WMB) after the energy infrastructure firm announced it will issue 65 million new shares as part of a restructuring; WD-40, (WDFC) slipping and sliding after the lubricant maker posted a miss on both its top and bottom lines; and Ascena Retail Group (ASNA). The owner of the Loft and Ann Taylor reported holiday same-store sales below estimates and reduced its full year 2017 earnings guidance.
Stocks ending the day in the green include Pacific Continental (PCBK) after Columbia Banking System agreed to buy its fellow regional bank for about $644 million, Barracuda Networks (CUDA) after the cybersecurity firm beat estimates on both earnings and revenue, and GM (GM). Shares are higher after the automaker boosted its 2017 profit guidance and announced a $5 billion share-repurchase plan.
Here’s what will be making headlines tomorrow:
- At 10:30 a.m, We’ll get fresh data on the oil trade with the EIA’s crude inventory report. The prior week saw inventories dip by 7.1 million barrels.
- It will also be a busy day for confirmations as the Senate Committees consider Rex Tillerson for Secretary of State and Elaine Chao for transportation secretary.
- Finally, for the first time since the election, President-elect Trump will take questions from the press at a formal ‘general news conference’ in New York. He is expected to address the future of his businesses and potential conflicts of interest.