Global stocks sell off as traders seek safety ahead of the Fed. And Apple looks for a Siri-powered jump-start. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer.
Winners and losers
Stocks in the red today include Facebook on Citron Research's bearish stance; Microsoft on its big cash purchase of LinkedIn; and SAP slipping after Jefferies downgraded the enterprise software firm's stock on concerns stemming from its transition from a license-based business model to a subscription one.
Stocks pulling higher to start the week include Symantec following its purchase of Blue Coat; Twitter surging on the fuel of LinkedIn's huge buyout; and graphics chipmaker Nvidia up on two separate bullish notes, with Nomura upgrading the stock and Jefferies raising its price target to $56.
Old monopolies were about commodities or production—think Standard Oil or US Steel. But the next wave of billion dollar public companies will be less about product and more about platform. Here to explain the phenomenon are the authors of the new book "Modern Monopolies: What it Takes to Dominate the 21st Century Economy"—Alex Moazed and Nicholas Johnson.
- We'll get an important read on the consumer with retail sales data for the month of May. The Street's looking for a build from the prior month's 0.6% core reading.
- The FOMC begins its two-day policy meeting for June on Tuesday. Make sure to stick with Yahoo Finance on Wednesday; we'll have that decision for you live at 2 p.m. ET.
- Finally, the Electronic Entertainment Expo (E3), kicks off in Los Angeles tomorrow. The massive industry event for the video game industry will have Microsoft, Sony and Nintendo showcasing their latest games in development. Hugely anticipated are Titan Fall 2, the latest Zelda installment and Sony's VR games.