Stocks (^DJI, ^GSPC, ^IXIC) are stuck in range as Wall Street awaits central bank action and as a massive snow storm barrels toward the East Coast. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer.
Winners and losers
Let’s take a look at some of today’s winners and losers. Stocks in the red today include Gamestop as the retailer was cut to market perform at Telsey Advisors, citing the decline in physical video game sales; Urban Outfitters as new market cap rules from S&P mean the retailer will move from the S&P 500 to the S&P MidCap 400; and Lululemon, with shares bending backward after analysts at Oppenheimer lowered current quarter profit estimates for the yoga-wear maker, citing lack of catalysts for the stock.
Stocks on the move higher include MobilEye as Intel will buy the autonomous driving tech company for $15.3 billion; AMD as the chipmaker will be added to the S&P 500 index; and Herbalife, with shares getting a boost today as Carl Icahn upped his stake in the multi-level marketing company to 24.6%, squeezing his hedge fund nemesis Bill Ackman of Pershing Square.
The baby boomer effect
There’s a lot about the economy in the coming years that we can’t predict: How will technology impact productivity? What will the gig economy mean for labor? But one thing is for certain, there are going to be a lot of old people driving what happens. Brian Anderson from the Conference Board says the wave of aging baby boomers will change everything from available jobs to consumer spending habits.
- The FOMC begins its two-day policy meeting. Stick with Yahoo Finance as we’ll have its rate decision live on Wednesday at 2 p.m. ET.
- At 8:30 a.m., we’ll get producer prices for February. The index minus food and energy costs is expected to rise 0.2%, down 50% from the prior month.
- And we’ll get a few earnings reports with Volkswagen and Twinkie-maker Hostess Brands.