It’s home on the range for stocks (^DJI, ^GSPC, ^IXIC) as oil drops again, and more Fed speakers weigh in. Plus we had a blowout box office for “Beauty and the Beast.” Is Disney’s *next* big franchise already here? And Alan Blinder will talk about why Trump’s growth plan is more bark than bite. Catch The Final Round at 4 p.m. ET with Justine Underhill and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks in the red include Quicklogic on a secondary offering, Sonic on an analyst downgrade, and Array Biopharma — shares dropping as the drugmaker withdrew its FDA application for a rare melanoma treatment.
Stocks in the green include FireEye on a BofA/Merrill Lynch upgrade, AMD on positive comments from Jefferies, and Sprouts Market — the organic grocer rising on a report that it’s in merger talks with grocery chain Albertsons.
Alan Blinder weighs in on Trump
We’ve got one economy, but two people in charge — President Trump and Fed Chair Janet Yellen — and they seem to be moving in opposite directions. Trump wants faster growth with tax cuts and infrastructure spending, but Yellen’s rate hikes *could* crash Trump’s party. Earlier we spoke with Alan Blinder, former Fed vice chairman and a visiting fellow at Brookings and I asked about the risks to the economy, including inflation.
- We’ve got a slew of Fed talk throughout the day, with speeches from four Fed presidents.
- We’ll also hear from President Trump as he delivers the keynote address at a GOP congressional dinner.
- And we’ll get Nike and Fed Ex earnings for the holiday quarter.