Stocks turned negative after the Labor Department's February jobs report handily exceeded expectations, reaffirming the building momentum in the economic recovery, but also stoking a rise in Treasury yields and concerns over an economic overheating.
We could see a counter-trend rally by the Aussie and Kiwi over the near-term ahead of the Fed’s March 17 monetary policy announcements.
Shares of Okta (NASDAQ: OKTA) were slipping for the second straight day following its fourth-quarter earnings report Wednesday night. As of 12:03 p.m. EST, Okta stock was down 9.6%. There was no major news out on Okta, though a number of analysts weighed in on the stock since the earnings report, with many lowering their price targets following the sell-off and the disappointing earnings guidance.