Stocks (^DJI, ^GSPC, ^IXIC) are up but paring gains as tech leads the way ahead of another big earnings season. Plus, Apple’s new iPhone is almost here. You want one? You’d better save up. And Prime Day is (almost) here. But are you just buying leftovers? Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance reporter Seana Smith.
Winners and losers
Stocks on the move higher include Arconic on an upgrade from JPMorgan noting the selloff stemming from the Grenfell Tower fire was overdone; ClubCorp as Apollo Global plans to buy the golf course operator for $1.1 billion; and Nvidia, with shares of the chipmaker popping as Needham upped its price target to $200, claiming Nvidia’s deal with Toyota alone could generate as much as $1.7 billion in sales.
Stocks getting hit today include Best Buy on news Amazon is planning a home service similar to Geek Squad; Five Below as UBS downgraded the fidget-spinner maker to neutral claiming shares will be rangebound; and Abercrombie & Fitch, with the teen retailer tumbling after announcing it has ended talks to sell itself.
- At 10 a.m. ET, we’ll get the Labor Department’s JOLTS report for May. The Street’s expecting slightly less than 5.97 million job openings—a bit below the prior month.
- We’ll get more Fed speak from Federal Reserve governor Lael Brainard, followed by the Minneapolis Fed’s Neel Kashkari
- Finally tomorrow night its the MLB All-Star game from Marlins Stadium in Miami. Remember, the league that wins the game gets home field advantage during the World Series, so there is something as stake. Houston is leading the way with six all-stars, followed by the Yankees and Nationals, with five each.