Stocks (^DJI, ^GSPC, ^IXIC) are ending the month on a down note. But if you sold in May you missed out on some good monthly gains. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer
Winners and losers
Stocks in the red today include Asanko Gold as Muddy Waters announced a new short position in the gold miner, citing liquidity concerns; Five Below with Keybanc downgrading shares claiming the fidget spinner fad is over; and Michael Kors, with shares of the apparel maker on sale today as same store sales fell 14% and it gave weaker than expected guidance.
Stocks in the green today include Perrigo as the generic drugmaker beat on profit and said it expects to return to growth in 2018; J. Jill as the apparel maker’s sales and profit topped estimates; and Exact Sciences, with shares of the diagnostic test-maker jumping as United Healthcare said it would cover the company’s ‘Colorguard’ colon cancer screening test.
Trading the globe
Investors looking abroad for returns are usually tied to buying ADRs—or American Depository Receipts—for foreign companies listed in the U.S. or ETFs that track foreign stocks. But you can directly buy foreign stocks listed on exchanges abroad. Here to discuss how to do this, and why, is John Gagliardi, CMT regional brokerage consultant from our sponsor, Fidelity Investments.
Looking ahead
In the morning ADP will release its private employment report for May. The consensus estimate is for 170,000 new jobs. It’s not always an accurate predictor for Friday’s jobs report, but a must-read nonetheless.
And we’ve still got more companies set to release earnings. Dollar General, Lululemon, Mobileye, VMWare all report tomorrow.
Finally at 10 a.m. ET, we’ll get a crucial read on the economy with ISM’s manufacturing index for May. The Street’s expecting the number to stay around the 54.6 level.
