Stocks fight for gains, banks lead the way ~ The Dow and S&P (^DJI, ^GSPC) claw back lost ground, nearly erasing last Wednesday’s losses. With the bulls back in charge, are new highs on the way? Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance reporter Jared Blikre and Peter Kenny of Kenny’s Commentary and Global Markets Advisory Group http://glblmkt.com/
Winners and losers
Stocks getting hit today include shoe retailer DSW on an earnings miss; AutoZone as the auto parts retailer reported earnings and revenue that fell short of expectations; and Alexion, with shares sinking after the pharma company announced its CFO will resign at the end of August along with other management changes.
Meanwhile, stocks ending the day in the green include telecom equipment maker Nokia after settling an ongoing patent dispute with Apple; grain trader Bunge after the WSJ reported Glencore made a takeover approach; and Take-Two Interactive, with shares soaring as the maker of “Grand Theft Auto” videogames posted earnings and revenue well above forecasts, despite noting that the launch of its “Red Dead Redemption 2” game would be delayed until next year.
We’ll get some more earnings, with Lowes and Tiffany reporting before the bell, and HP after the market close.
At 10 a.m. ET we’ll get more housing data—existing home sales for April. The Street’s expecting 5.65 million homes sold, a slight dip from the prior month.
Finally, at 2 p.m. ET, the Street will be looking for clues as to the where the Fed’s leaning when the FOMC releases minutes from its May meeting.