Summer’s over, and now the trading begins. With stocks butting against all-time highs, will September see us push higher, or “fall” back due to the Fed, the election, and overall uncertainty?
Winners and losers
Stocks on the move lower today include Hess, as oil weighed on the energy and gas producer, media measurement firm comScore after SunTrust analysts downgraded the stock, and Tonix Pharmaceuticals. Shares of the biotech firm are slipping after its chronic pain treatment for the disorder Fibromyalgia did not reach its trial endpoint.
Stocks on the move higher today include Barnes and Noble following a positive mention in Barron’s claiming shares are a bargain, molecular diagnostics firm Cepheid following Danaher’s $4 billion purchase of the company, and Navistar, with shares of the truck maker chugging higher after Volkswagen announced it would buy a 16.6% stake in the company, and would provide strategic technology and parts procurement.
Big data, big problems?
Big data and algorithms are all around us, whether they’re assessing risks in the markets or deciding new trending topics on your Facebook feed. But is it possible that these models and algorithms could be causing a silent financial crisis? Joining us now to discuss is Cathy O’Neil, former Wall Street quant and author of the new book “Weapons of Math Destruction.”
In the morning we’ll get some big data in the housing sector with MBA’s mortgage application data for the week of September 2. In the prior week we saw a jump of 2.8%.
Later in the morning we’ll get the Job Openings and Labor Turnover Survey, or JOLTS report, for July. In June we saw just over 5.6 million job openings.
And tomorrow afternoon from the Bill Graham Civic Auditorium in San Francisco, Apple CEO Tim Cook will lead the company in its fall hardware event, where we’re all but certain to see the new iPhone 7 and possibly an updated Apple Watch. Stick with the Final Round tomorrow for live analysis of all the Apple product reveals.