Stocks slip as Dow snaps 10-day streak
Despite a strong week, stocks (^DJI, ^GSPC, ^IXIC) end with a whimper as the Dow snaps a 10-day winning streak. Plus – another big week for Trump in the books. But will a border adjustment tiff derail comprehensive tax reform? And – the Oracle puts pen to paper this weekend – will his latest investment letter surprise his adoring fans?
Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland, columnist Rick Newman, and reporter Jared Blikre.
Winners and losers
Stocks sinking to end the week include HP Enterprise after the tech company posted a big miss on revenue and cut its outlook for the year, Zoës Kitchen as the fast casual chain reported same-store sales declines and disappointing guidance, and JCPenney. Shares of the department-store chain sinking after same-store sales missed the mark and the retailer announced plans to close over 100 stores.
Meanwhile, stocks ending the day in the green include Foot Locker, as the athletics shoe retailer’s earnings topped estimates, and same-store sales increased 5 percent, and sticking with retail, Nordstrom shares higher after handily beating earnings estimates and Restoration Hardware. The high-end furnishings retailer posted better-than-expected earnings and said its board authorized as much as $300 million in stock buybacks.
Looking ahead
On Tuesday we’ll get the 2nd reading for 4th Quarter GDP. The first reading notched a 1.9% growth rate.
On Wednesday we’ll get personal income and outlays for January, which includes the Fed’s preferred measure of inflation, the Core PCE price index. In the prior month it rose 1.7% year over year
Finally on Friday afternoon, Fed Chair Janet Yellen will be speaking at the Executives’ Club of Chicago.
