Stocks can't maintain a global market rally as a late afternoon fade pulls stocks lower. China's growth slowed to its worst level in 25 years, while oil slipped below $29 a barrel. Yahoo Finance's Nicole Sinclair broke down all of today's action.
Winners & losers
Stocks slipping to start the week include Twitter, sinking to new lows after a site outage, ConocoPhillips, down after announcing job cuts, and Tiffany, the blue-boxed luxury goods maker selling off after reporting holiday sales softened this year. Tiffany cut its forward guidance, and has announced a round of job cuts.
On the flipside, today's winners were Viacom, as activists target the media company, Shake Shack on an upgrade, and Macy's. David Einhorn's Greenlight Capital revealed a stake in the department store chain, arguing Macy's could become a takeover target. Separately Macy's CEO Terry Lundgren told CNBC that it would be pursuing options to unlock value in its real estate holdings.
Point72's Perry Boyle on the market
The 2016 trading year is off to a volatile start, but for many this could mean opportunity. Yahoo Finance's Alexis Christoforous spoke with Perry Boyle, Managing Director at Hedge Fund heavyweight Steven Cohen's new firm - Point72 Asset Management - to get his outlook on 2016.
Netflix soars after hours
Netflix reported an earnings beat and subscriber numbers that gave something for investors to cheer about.
- The World Economic Forum officially opens in Davos, Switzerland. Yahoo Finance is live in Davos with breaking news from the biggest names in politics and Finance, starting tomorrow at 8:15a ET.
- We'll get an important economic reading on inflation in the U.S. with the consumer price index - something the Federal Reserve is keenly watching ahead of its policy meeting next week.
- Finally - President Obama visits Detroit to quote 'experience firsthand the remarkable progress made by the city, its people and neighborhoods, and the U.S. auto industry.' The President will stop by the Detroit Auto Show and deliver remarks later at the UAW GM Center for Human Resources.