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Stocks turn negative for 2016 on more hints rate hikes are coming

Yahoo Finance
Yahoo Finance

Wall Street worries grow as another Fed head hints that a rate hike could be coming. But are the markets getting ahead of themselves? Plus, Phil Mickelson is ensnared in an insider trading case. We break it down. And, despite Walmart's good report, retail earnings have been a market sore spot, but is it all because of online sales? We look at the numbers. Catch The Final Round at 4 p.m. ET with Jen Rogers, markets correspondent Nicole Sinclair and writer Dan Roberts.

Winners and losers

Stocks sinking into the red today include Goldman Sachs as the financials got hit today; Stage Stores, parent of Goody's and Peebles department stores, slashed after a huge earnings miss; and L Brands. Shares of the Victoria's Secret owner got flogged following a revenue miss and a profit guidance cut.

Stocks bucking the tough tape today include Cisco, the networking giant surging on strong demand for its security products; teen retailer American Eagle up after an earnings and revenue beat; and Salesforce.com surging on an earnings beat and raised forecast.

Retail Roundup

Walmart beat expectations on both earnings and profits last quarter, but do the numbers brighten the retail picture? Yahoo Finance's Justine Underhill breaks down the charts.

Navigating a risky market

Risk-taking is all around us, whether it's in the markets, business decisions, or our personal lives. So how can you better your odds when going into uncertain territory? Joining The Final Round is Karen Firestone, author of the new book Even the Odds.

Looking ahead

  • We'll get another read on the housing sector with existing home sales for April. The Street's expecting around 5.4 million homes sold, a slight tick up from the prior month.
  • Earnings season is still around, with reports from Campbell Soup, Deere, and Foot Locker.
  • And Ferris Fest is here, celebrating the 30th anniversary of the John Hughes favorite Ferris Bueller's Day Off. Taking place in Northbrook, Lake Forest, and Chicago, Illinois, highlights include a screening of the movie with stars from the film, tours of all filming locations, and of course, a live re-enactment of the iconic 'Twist and Shout' parade scene.