The top stocks to watch today (Thursday) are Snap Inc. (NYSE: SNAP), Shake Shack Inc. (NYSE: SHAK), and Netflix Inc. (Nasdaq: NFLX).
Today, the probability of a rate hike in March increased to 86%. Yesterday it was 80%. That will be one of the biggest market movers today.
The World Interest Rate Probability increased the likelihood of a rate hike after a heavy round of positive U.S. economic data pushed the Dow over 21,000.
Now that we know what will be moving markets, here are three top stocks to watch today...
Top Stocks to Watch Today: Snap Inc. (NYSE: SNAP)
Snap Inc. goes public today in the most anticipated IPO of 2017.
Urgent: Don't miss out on the top IPOs to watch in 2017.
If the IPOs of Facebook Inc. (Nasdaq: FB) and Twitter Inc. (NYSE: TWTR) showed us anything, we can expect a wild ride from SNAP stock over the next few weeks.
It is likely that the price of SNAP will be bid up dramatically as the institutions that bought large blocks of stock are required to hold onto them for a year, limiting the supply of stock available to the general public.
SNAP stock was priced at $17 last night, but could open higher if demand levels are high.
Top Stocks to Watch Today: Shake Shack Inc. (NYSE: SHAK)
Shake Shack stock is down 4% in early morning trading after posting disappointing sales growth.
The company reported earnings per share (EPS) of $0.09, which was on par with analysts' expectations.
The trouble comes with the sales growth that was only 1.6% for same-store sales. Analysts were expecting sales growth of same stores to be 2.6%.
SHAK stock is currently trading at $36.12 for a gain of 1% year to date (YTD).
Top Stocks to Watch Today: Netflix Inc. (Nasdaq: NFLX)
Netflix stock is expected to decline today after news broke early this morning of a class-action lawsuit filed against the company.
The lawsuit was filed in the U.S. District Court, Northern District of California and alleges that shareholders lost $5 billion in value when the company understated the impact of price increases.
Little is known about the lawsuit yet as news continues to break. Check back with Money Morning for continued updates.
NFLX stock is currently trading at $142.65 for a gain of 15% YTD.
Editor's Note: Protect your money in 2017. Know exactly what to buy and what to sell.