With the polls tightening and the Fed standing pat, stocks drop as uncertainty rules on Wall Street. Catch The Final Round at 4 p.m. ET with Jen Rogers and reporter Myles Udland.
Winners and losers
Let’s take a look at some of today’s winners and losers. Stocks getting hit today include Allergan as the drug maker missed on the both the top and bottom lines despite good sales of its glaucoma drugs and Botox; Valeant shares giving back yesterday’s gains as Dow Jones reports it’s in talks to sell its eye surgery equipment business; and Etsy, with shares of the craft goods marketplace dropping despite raising its full year guidance, as Etsy revealed its CFO was leaving the company to pursue other opportunities.
Stocks getting a lift today include Yelp after it reported a surprise earnings beat with revenue climbing 30%; Square as Jack Dorsey’s payments company reported a narrower loss than expected and lifted full year guidance; and Zillow, with revenue topping forecasts as it raised its full-year sales outlook as its user base continues to increase.
Time to buy Facebook?
For more analysis and what’s ahead for Facebook, Rahul Shah, CEO and founder of Ideal Asset Management, joins The Final Round.
- In the morning, we’ll get jobless claims for the week. The street’s expecting around 255,000 initial claims.
- At 10 a.m. ET, we’ll get factory orders for the month of September. The consensus estimate is for a 0.2% gain month over month, matching August’s performance.
- Also at 10 a.m., ISM will release its non-manufacturing index for October. The Street’s looking for continued expansion, with a 56.1 reading.