Stocks (^DJI, ^GSPC, ^IXIC) are weak as tech rolls over for the second day. Is it time to buy—or follow the herd and take profits in tech? Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks on the move lower today include Ebay as Baird sees only slight growth improvement in May, although in line with estimates; Coherus BioSciences as the FDA didn’t approve the drugmaker’s white blood cell stimulant; and AMD, with shares dropping as Goldman maintained its sell rating, claiming cryptocurrency mining won’t be a sustainable earnings driver.
Stocks in the green today include NeuroDerm as Bloomberg reports the drugmaker is weighing a sale; Viacom as JPMorgan says its Paramount unit is a ‘hidden jewel’ in a research note; and GE, with shares rising for the Dow component as GE announced CEO Jeff Immelt will be stepping down in August. GE Healthcare’s John Flannery will be taking over.
Making golf cool again with AI
It’s no secret that golf has hit a rough patch … with lower participation rates and over 800 golf course closures in the past decade. But could artificial intelligence be the key to making golf cool again? Joining us now is Arccos CEO Sal Syed.
At 8:30 a.m. ET, the Bureau of Labor Statistics will release producer prices for May. Economists are expecting the core reading, less food and energy, to rise 0.2% month over month, which is half the prior month’s gain.
Also tomorrow the Fed’s FOMC’s two-day policy meeting begins, with a statement and rate decision expected on Wednesday afternoon.
Finally, in Los Angeles, the Electronic Entertainment Expo (or E3) opens up to the public. E3 is where the video game industry offers its latest and greatest, including the new Xbox One X console, Forza 7 driving game, and the latest in the Assassins Creed franchise.