Stocks Go Nowhere As Oil Dips To $35

By Staff Reporter
Posted on 04/04/16 | News Source: Yahoo Finance

Stocks go nowhere as oil dips to $35. After hitting new highs last week, have stocks come too far, too fast? Catch the Final Round at 4 p.m. ET with Yahoo Finance's Jen Rogers and columnist Rick Newman.

Panama Papers

The "Panama Papers" leak dominated the headlines today. It's a massive story about tax evasion by the world's super elite. Rick Newman tells us why no Americans were on the list.

Winners and losers

It's downgrade Monday for these stocks trading lower, starting with GE, downgraded by Bernstein on valuation concerns; Smith & Wesson, downgraded by both BB&T and Cowen; and Viacom, with analysts at Moffet-Nathanson slapping it with a 'neutral' tag, stating "the old Viacom playbook no longer works," predicting TV and cable ratings would not improve.

Stocks on the move higher today include Apple after Credit Suisse added it to its Focus List and upped its price target; Tesla zooming higher after hitting 276,000 Model 3 pre-orders, and WWE. Kaboom! The company's shares ripped higher today after last night's WrestleMania 32, which was the highest grossing live event in WWE history.

Looking ahead

• In the morning, we'll get more data on employment with the Fed's job openings and labor turnover report, or JOLTS report, for February. The month before saw 5.5 million job openings.
• We'll get a read on the growing services sector in America with ISM's non-manufacturing index for March. Economists are expecting a slight uptick to a 54.0 consensus reading.
• It's the big one in Wisconsin—polls open tomorrow for both Republican and Democratic voters. Ted Cruz is narrowly favored over Donald Trump in the polls, while its a dead heat between Hillary Clinton and Bernie Sanders.