Stocks bouncing higher today as the dollar backs off. And it’s all eyes on Disney with earnings on the way. Catch The Final Round at 4 p.m. ET with Yahoo Finance’s Jen Rogers, our markets correspondent Nicole Sinclair, and Torsten Slok of Deutsche Bank.
Winners and losers
Stocks slipping into the red today include Lumber Liquidators on a steep decline in same-store sales; Gap tumbling after it issued an earnings warning; and SolarCity after Elon Musk’s solar company posted a much wider than expected loss and cut its projection for annual solar panel installations.
Stocks pushing higher today include Allergan on a new $10 billion share buyback plan; at-home beverage-maker Sodastream buzzing on a profit and revenue beat; and Amazon, with shares pushing higher after analysts at Bernstein boosted its price target on the company to $1,000, claiming consensus estimates for Amazon were “shockingly low.”
Is hard work and talent the key to success?
It turns out that luck matters a lot more than you might think. Wealthy people overwhelmingly attribute their own success to hard work rather than to factors like luck or being in the right place at the right time. Earlier we spoke with Robert Frank, author of the new book, “Success and Luck: Good Fortune and the Myth of Meritocracy,” on how this may affect the psyche of entrepreneurs and investors.
- More crucial data for the volatile oil trade comes tomorrow with EIA’s crude inventory report. We’ll see if this week’s report shows yet another build.
- Earlier in the day tomorrow, we’ll get a read on the housing sector with the MBA’s Mortgage Applications index. Last week we saw applications fall 3.4%.
- Finally, for the film buffs: The 69th annual Cannes Film Festival opens tomorrow with the world premiere of Woody Allen’s latest, “Cafe Society,” starring Kristen Stewart and Jesse Eisenberg. Films by Sean Penn, Pedro Almodovar, and Jim Jarmusch will be in competition, and out of competition screenings will include Shane Black’s “The Nice Guys” and Yahoo Finance’s unofficial favorite, Jodie Foster’s “Money Monster.”
- Lumber Liquidators