Stocks (^DJI, ^GSPC, ^IXIC) in green again with the Nasdaq powering to new all-time highs. Is the tech the trade for 2017? Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.
Winners and losers
Stocks in the red today include Intra-Cellular Therapies after the FDA requested additional data related to its schizophrenia drug, Newell Brands as Wells Fargo downgraded the Rubbermaid maker on concerns over the US macroeconomic environment, and Genworth Financial – shares of the financial services company slipping after it will seek more time for approval of its $2.7 billion deal with China Oceanwide Holdings Group.
Stocks in the green today include Wynn Resorts as casino revenue in Macau rose more than analysts expected, Valeant as the drugmaker sold 3 skin care brands to L’Oreal thus lowering its debt burden by $220 million, and Tribune Media Company – shares ripping higher on reports 21st Century Fox is joining the list of suitors bidding for the TV station operator.
The Rise of Thematic Investing
The largest and most well-known ETFs track an index say the S&P 500 or a sector like healthcare. But recently we’ve seen the rise of thematic ETFs – funds investing in a theme or strategy. New US policy focused funds have cropped up during President Trump’s first 100 days. Jay Jacobs, Vice President & Director of Research, Global X is here with more.
We’ve got another big day of earnings with reports from Apple, BP, Mondelez, and Altria Group.
And its the start of the Federal Open Market Committee’s May meeting, when Janet Yellen and company discuss their economic outlook and decide whether or not to raise rates.
Finally, United Airlines CEO Oscar Munoz and other airline executives will testify at a House hearing about quote “what can be done to improve the flying experience for American travelers.”