It's T-minus one day as Wall Street awaits tomorrow's start of one of the most important Federal Reserve meetings in many years. And according to Yahoo Finance Senior Columnist Michael Santoli, "waiting" will be the operative word for stocks (^GSPC) until Janet Yellen and company make their pronouncement on interest rates Thursday.
"We're seeing a lack of willingness to buy this market even if it looks kind of oversold," he says. "People perceive there to be two- sided risk--risk in the market if the Fed does decide to move or even risk if it doesn't."
Investors have one piece of economic data to consider today as they wait--The Commerce Department reports retail sales rose a less than expected 0.2% in August, although leaving out gas and autos, they were up 0.4%, in line with estimates.
Fitbit price target
Here are some of the stocks the Yahoo Finance team will be watching for you today.
Fitbit (FIT) Pacific Crest is beginning coverage of the maker of wearable exercise devices with a price target of $47. That equals another 47-- 47% above yesterday's closing price.
Cheniere Energy (LNG) For the second time in about a month, billionaire investor Carl Icahn is boosting his investment in the Houston-based liquid natural gas company. A regulatory filing show Icahn now holds a 9.59% stake in Cheniere...up from 8.18% previously.
Xenoport (XNPT) The California-based biopharma company says it had positive results from the Phase 2 test of its experimental psoriasis treatment. Xenoport expects to begin late stage trials of the treatment next year. However, investors sold off shares after they had soared in early trading.
Sonic (SONC) The drive-in restaurant chain is reporting sales at locations open at least a year rose 4.9% in the fourth quarter. And for the full year, they were up 7.3%. Sonic forecasts that in fiscal 2016, sales will rise in the 2% to 4% range...and it expects to increase its quarterly dividend by 2 cents to 11 cents a share.
HP analyst meeting today
It’s a big day for silicon valley legend Hewlett-Packard (HPQ) The company hosts it strategy meeting today with analysts to discuss it’s upcoming split into two companies - one catering to consumers, the other for business and enterprise.
Sticking with Silicon Valley...electric carmaker Tesla (TSLA) may need to keep an eye on its rear-view mirror. Porsche has just unveiled its Mission E electric sports sedan, one that can charge faster than a Tesla and boasts 600 horsepower.
Finally… you couldn't ignore them during week one of the NFL season. Ads for daily fantasy sports sites DraftKings and FanDuel were plastered everywhere. But as the business explodes, Congress is taking a look. Rep. Frank Pallone (D-NJ) wants an inquiry into the relationship between daily fantasy sports, and gambling.
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