Yahoo Finance Stocks whipsawed as Trump tax plan revealed
Stocks (^DJI, ^GSPC, ^IXIC) whipsawed and the dollar pares its gains, as Trump’s tax plan is revealed. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks getting hit today include Capital One on an earnings and revenue miss; Restaurant Brands as same store sales at both Tim Hortons and Burger King fell last quarter; and US Steel, with shares of the steelmaker rolling over after it reported a surprise loss and gave weaker-than-expected guidance. This comes as the White House began a probe last week into imported steel prices.
Stocks getting a boost today include Anthem as the insurer reported a strong earnings beat and better-than-expected full-year forecasts; Deckers Outdoor as the UGG boot maker is exploring strategic alternatives, including a sale of the company; and Twitter, with shares jumping today after it notched an earnings beat and revealed that it added more daily active users than the Street estimated.
TE Connectivity CEO on earnings, and what’s next
TE Connectivity—the makers of connectors and sensors—has a special insight into our global economy. Their products are used in almost every industry from auto to aerospace, defense, medical, oil and gas, consumer electronics and even sub-sea communications. Earlier we spoke with Terrence Curtin, CEO of TE Connectivity, and asked about reported better-than-expected earnings.
Looking ahead
At 8:30 a.m. ET, we’ll get durable goods orders for March. The Street’s expecting the ex-transports figure to climb 0.4%, matching the prior month.
At the same time, the Labor Department will release jobless claims for the week. The consensus estimate is for 244,000 initial claims, again matching the prior week.
It’s another big day for earnings, highlighted with huge after-hours reports from Amazon, Google, Microsoft, and Starbucks. We’ll break those numbers as they happen.
