It was all eyes on Janet Yellen today as she spoke for the first time following December’s rate hike. Did the market buy what the Fed chief was selling? The Final Round begins at 4 p.m. ET, and Yahoo Finance editor-in-chief Andy Serwer breaks down all the market action.
Twitter, Cisco after hours
Big reports from Twitter and Cisco after the bell today. Yahoo Finance tech reporter Aaron Pressman gives us his take on these two reports, which will likely affect the tech trade tomorrow.
Winners and losers
Stocks slipping in today’s trade were Disney on concern over profits at ESPN, SolarCity on a downbeat forecast, and Time Warner – the media company sliding after reporting revenue that came in below forecast, although it did hike its dividend.
Stocks that pulled higher in today’s choppy market include Akamai on an earnings beat, Fitbit on news of Marc Benioff’s stake, and Deutsche Bank – shares are ripping higher today after the FT reported that the beleaguered German bank may institute an emergency buy-back of some of its senior bonds.
Sheila Bair on banks
Shares of U.S. banks have been hit hard this year, due in part to fears over souring oil loans … but is the banking system safer now than it was before the financial crisis? Sheila Bair, president of Washington College and former FDIC chairwoman, discussed the strength of our banks.
- Janet Yellen returns for day two on the Hill, this time presenting the Fed’s semi-annual monetary report to the Senate Banking Committee.
- A big week for corporate earnings rolls on with reports from CBS, Molson Coors, and PepsiCo.
- And New York Fashion Week begins with shows from Nicholas K, Marcel Ostertag, and BCBG Max Azria during the day tomorrow. Fashion Week continues through next Thursday, culminating with Ralph Lauren’s highly-anticipated event on the 18th.
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- Janet Yellen