Stocks soar to end month as financials rebound
Stocks end September with a bang as financials, and beleaguered Deutsche Bank, lead the way. And – the jitters from across the pond easing – but are European banks still in trouble? Plus – will he or won’t he? Trump’s tax returns in focus, but how would they stack up against other past candidates? Catch The Final Round at 4p ET with Yahoo Finance Editor-in-Chief Andy Serwer, Markets Correspondent Nicole Sinclair and Columnist Rick Newman.
Winners and losers
Stocks ending the week on a down note include Cognizant after revealing an internal investigation into potentially illegal payments in India, hedge fund Och-Ziff after announcing it will pay $412 million to settle allegations that it bribed officials in several African countries, and Wynn Resorts. Shares of the casino operator falling after the president of its Macau subsidiary resigned.
Stocks ending the day in the green include enterprise cloud company Nutanix popping more than 90% on its public debut, electronics design firm Mentor Graphics after activist fund Elliott Management doubled its stake in the company; and Lexmark – shares soaring after the printer maker announced it received clearance from the US on its pending acquisition by an Asia-based consortium. The transaction, however, still remains subject to Chinese regulatory approval.
Looking ahead
On Monday we’ll get a crucial read on the economy with ISM’s manufacturing index for September. The street’s expecting the number to improve from the previous 49.4 reading.
The Fed speak ramps up with remarks from seven officials, punctuated by Fed vice chair Stanley Fischer’s widely anticipated speech on Friday in Washington DC.
And speaking of Friday. Get ready. One week from today, we’ll get the latest on the jobs situation, with September’s payroll and unemployment numbers. The previous reading showed a weaker-than-expected payrolls gain of 151,000 jobs. Analysts are looking for 173,000 payrolls in September.
