Stocks (^DJI, ^GSPC, ^IXIC) are tumbling as worries about the future of Donald Trump have traders pulling the rip cord. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland, and reporter Jared Blikre.
Winners and losers
Stocks getting hit with the broader market today include Disney as Macquarie downgraded shares to neutral citing ad sales and subscriber declines at ESPN, Acceleron Pharma as Goldman initiated the stock with a “sell”rating, and AMD – shares of the chipmaker sliding as the company provided guidance at its investor day that disappointed, and that chatter of a licensing deal with Intel was unlikely.
Stocks bucking the tough tape include Jack in the Box on news it is considering a spinoff of its Qdoba Mexican fast casual chain; Red Robin Gourmet Burgers on an earnings and revenue beat; and Colgate Palmolive, with shares of the consumer staples giant jumping as the CEO reportedly says he’s willing to sell the company for $100 a share.
Look abroad for gains?
After a day like today, you might be looking outside the US for a place to put your money to work. Our next guest has some thoughts on what countries and regions might be best. Ryan Payne of Payne Capital Management joins us now.
At 8:30 a.m. ET, we’ll get jobless claims for the week. The Street’s expecting around 240,000 initial claims.
Also at 8:30 a.m. ET, it’s the Philly Fed’s Business Outlook survey for May. The consensus estimate is for a 19.6 reading, a dip from April.
Finally we’ll get big earnings reports for Dow component Wal-Mart, Salesforce.com, Alibaba and The Gap.