Stocks (^DJI, ^GSPC, ^IXIC) are weak here as retailers weigh, and a warning sign flashes for the market. Plus, retailers getting crushed but one name is still ‘maxing’ out profits. We reveal a top consumer trade. And, are infrastructure stocks still a trade given White House dysfunction? One fund manager makes the case. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Nicole Sinclair.
Winners and losers
Stocks in the green today include Pandora as Sling TV founder Roger Lynch was named its new CEO; Wynn Resorts as Deutsche Bank upgraded shares to buy with a $150 price target; and Synchrony Financial, with shares climbing after Warren Buffett’s Berkshire Hathaway revealed a new stake in the credit card issuer. Synchrony was spun off by GE back in 2014.
It’s a day of retail pain starting with Coach, as the handbag and accessory maker’s full-year earnings and revenue guidance missed estimates; Advance Auto Parts earnings and comparable-store sales missed the mark; and Dick’s Sporting Goods, with shares tumbling after the sporting goods retailer missed on earnings, revenue, comparable sale and its full-year forecast.
Infrastructure trade to pay off?
Even before Election Day last November there was one sure bet when it came to stocks that would be strong under either Trump or Clinton: infrastructure. But how as that played out and is now the time to give up or go in big? Mark Spellman, portfolio manager at Alpine Funds, joins us now.
