Stocks (^DJI, ^GSPC, ^IXIC) on edge here, trading in range as Janet Yellen just gave the green light on a coming rate hike. Plus – Is the Fed at risk of derailing the economy? We discuss the impact of future rate hikes. And – cash on the sidelines is flowing into this market at unheard of levels… are investors too afraid of NOT being in this market? Catch The Final Round at 4 p.m. ET with Jen Rogers Yahoo Finance editor-in-chief Andy Serwer; Bobbi Rebell, author of “How to be a Financial Grownup”; and markets reporter Myles Udland.
Winners and losers
Stocks ending the week in the red include Macy’s as Reuters reports Hudson’s Bay is struggling to raise financing for its Macy’s bid, Karyo-pharm Therapeutics after its acute myeloid leukemia treatment missed its primary research endpoint, and Costco – shares of the warehouse club getting hit today after it missed on profit and revealed it will raise membership fees.
Stocks in the green today include Snap as it continues chugging higher following yesterday’s stellar debut, Micron Technology as Cowen increased its price target to $34 after the memory chipmaker raised its full-year outlook Big Lots – shares of the discount retailer getting snatched up by investors after it announced an earnings beat, same store sales gains, and a new $150 million share buyback plan.
- On Monday we’ll get Factory Orders for January. In the prior month orders climbed 1.3%, which was a nice a improvement.
- On Wednesday we’ll get the EIA’s crude status report. Last week inventories climbed 1.5M barrels as US crude stockpiles hit another record.
- Finally on Friday it’s the big one, the jobs report. In the prior month we saw 227,000 jobs created, a big beat.