Stocks drift lower as Wall St. banks sound the alarm

Stocks (^DJI, ^GSPC, ^IXIC) drifting a bit lower as the slow summer on Wall Street rolls on. But don’t get complacent – big banks are sounding the alarm. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer. Plus – HP with earnings after the bell, we’ll have the report – live. And – Snap shares coming back to life after being left for dead by Wall Street pros. Why the smart money is missing this trade. Plus – Samsung’s back with a shiny new big phablet. Can the Korean giant’s latest offering make everyone forget about the Note 7 disaster?

Winners and losers

Stocks getting hit today include WPP as the world’s largest marketing group cut its full-year forecast, Intuit as the Turbo-Tax maker’s guidance missed the mark, and revealed its CFO will step down, and CSX – shares grinding lower as the rail operator was highlighted in the Journal as suffering from increased congestion, delays, and poor service.

Stocks moving higher today include Paratek Pharmaceuticals on a Bloomberg report the company is exploring strategic options; Express as the apparel-maker reported a surprise profit beat and online sales that jumped 28%, and Fiat Chrysler, with shares up again today on reports the automaker will spin off its Maserati, Alfa Romeo, and parts operations units.

What to read next

By using Yahoo you agree that Yahoo and partners may use Cookies for personalisation and other purposes