Stocks soar to 2016 highs; Oil jumps 4.5% – Yahoo Finance

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March Madness is here – but we’re not just talking basketball. Stocks soaring to new highs, with commodities leading the way. We break down all the action. Yahoo Finance’s Nicole Sinclair and Zor Capital’s Joe Fahmy break down all the action.

Winners and losers

Stocks on the move lower today include the aforementioned Williams Sonoma after earnings, Jabil Circuit dropping on lower than expected guidance, and Guess – the apparel retailer dropping after warning it would post a current quarter loss. The company has reported same-store sales declines for 21 consecutive quarters.

Stocks in the green today include the aforementioned Fedex on its strong earnings, Advanced Micro Devices on reports it will license technology to Intel, and Office Depot – the New York Post reports the retailer may get a bid from for its corporate business unit.

Fed losers

And speaking of winners and losers, one sector was hit particularly hard after yesterday’s Federal Reserve announcement. Justine Underhill has a closer look at the charts.

Looking ahead

  • Lots of Fed-speak with tomorrow starting with the New York Fed’s William Dudley, the Boston Fed’s Eric Rosengren, and St. Louis Fed President James Bullard who will be speaking in Frankfurt, Germany.
  • We’ll get a read on the consumer with the University of Michigan Consumer Confidence index for March. Economists are looking for a half percent gain from last month to 92.2.
  • And a new group of astronauts head up to the International Space Station tomorrow, with American Jeff Williams, and Russians Alexey Ovchinin and Oleg Skripochka blasting off from the Baikonur Cosmodrome in Kazakhstan.


Stocks soar to 2016 highs; Oil jumps 4.5% – Yahoo Finance}