Stocks snap a three week losing streak as Wall Street comes to grips with rate hike fears. And – Amazon, Google and Tesla show why they’re the tech starlets investors covet most. Plus – with Amazon Echo and Google Home, is AI finally ready for primetime? And – are retailers playing a wicked game of chicken with their customers? We explainCatch The Final Round with Yahoo Finance Editor-in-Chief Andy Serwer, markets correspondent Nicole Sinclair, and Cathie Wood of Ark Invest.
Winners and losers
Stocks ending the week on a down note include athletic retailer Foot Locker down on a revenue and same-store sales miss, Deere shares getting bulldozed after cutting its profit forecast for a second time this year, and Campbell Soup – the Andy Serwer favorite cooling off on weakness US soup sales, admitting to a “very challenging consumer environment.”
On the flipside, stocks pushing higher today include Gap, as it announced it will close 75 Old Navy and Banana Republic stores, design software-maker Mentor Graphics on a profit and revenue beat, and semiconductor equipment maker Applied Materials – shares surging on upbeat current quarter guidance.
What to watch
- On Thursday we’ll get a read on the heavy manufacturing sector in the U-S with durable goods orders for April. The street’s looking for a build from the prior month’s 0.2% drop in the core, or ex-transports, reading.
- On Friday we’ll get a second reading on GDP for the first quarter. Recall last month we registered a disappointing 0.5% growth rate in real GDP.
- Finally, on Monday San Francisco Fed President John Williams will be on The Final Round to discuss his outlook for the Fed and expand on why he thinks June is still in play for a rate hike.
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- Amazon Echo
- Andy Serwer