- Stocks (^DJI, ^GSPC, ^IXIC) soar with the Dow hitting a new record high, as Fed Chair Janet Yellen strikes a dovish tone.
- Stocks in the red today include Deere & Company as traders take profits after shares hit a 52-week high yesterday; Harley Davidson as Bernstein downgrades shares to market perform claiming upside catalysts are in the ‘rear view;’ and Ocular Therapeautix, with shares getting whacked after the FDA said it would not approve its drug application for the drugmaker’s ocular pain treatment in its current form.
- Stocks getting a lift today include Paypal as it struck a deal with Apple to be a payment option in the iTunes store; Grubhub as Cowen upgraded it to outperform claiming its growth profile and leadership are underrated; and American Airlines, with shares soaring after it raised its current quarter guidance for TRASM, or total revenue per available seat mile, a key metric in the airline industry.
- When stocks fall investors don’t just head for the exits, they flock to gold — the ultimate flight to safety.
- His new book is “One Nation Under Gold: How one precious metal has dominated the American imagination for four centuries.”
@YahooFinance: “LIVE: Check out what happened during the #yellentestimony, #bitcoin vs. #Gold -” open tweet »