It's been a rough week on the books with stocks struggling to hang on to gains despite a booming jobs report. Can anything be done to get this weary market back on track in 2016? We spoke to Peter Costa of Empire Executions to get his thoughts on the week's trading action and whether there's more pain to come.
Winners & Losers
Stocks tumbling in today's action were The Gap, Barracuda Networks, and The Container Store—the storage products retailer swung to a loss in the third quarter as revenue also came in short of Wall Street estimates. The company also slashed its guidance for its current fiscal year.
Shares jumping higher to end the week include Electronic Arts, Fuel Cell Energy, and Time Warner—its stock was up yesterday and today fueled by two reports, one by the New York Post claiming activist shareholders may push for an HBO spin-off and another by StreetInsider, which reported a source who believes Rupert Murdoch's Fox may try to make another run at the company. You might recall that Murdoch launched a bid in the summer of 2014 for Time Warner, which its board ultimately rejected.
New housing bonds
Turning to the housing market: In a twist, a new class of bond is born with Fannie and Freddie now increasing sales of mortgage-backed securities that place most of the default risk on the investor instead of the government. Yahoo Finance's Justine Underhill had the story.
Grocery going upscale
It was a gourmet landmark of New York in the 80s, and if you were fan of the hit show Felicity, you know it well. Upscale grocery chain Dean & DeLuca has come a long way—taking its New York/European market look across the country—and soon the globe. Joining me now to discuss is Justin Seamonds, president of Dean & DeLuca.
Looking ahead
Earnings season unofficially kicks off with Alcoa releasing its fourth-quarter earnings after the bell. It's been a rough year for the metals manufacturer, with shares down nearly 50%.
On the Fed-speak watch, Atlanta Fed President Dennis Lockhart will give his outlook on the heels of today's big jobs numbers.
Finally—it's the one for all the marbles—the 2016 College Football Playoff National Championship takes place in Glendale, Arizona, on Monday night, with the favored Alabama Crimson Tide taking on the number-one ranked Clemson Tigers.
