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All eyes are on U.S. Federal Reserve Chair Janet Yellen today as she speaks to the Executives Club of Chicago about the economic outlook. The speech takes place at 1:00 p.m. and investors are watching to see if there are hints about the potential rate hike at the end of the FOMC meeting from March 14-15.
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. went public yesterday and it looks like today will be another busy day of trading.
Yesterday, 216.5 million shares of SNAP changed hands, driving the price up 44% in its first day of trading.
Today, shares of Snapchat's parent company are already up 2% in early morning trading.
Currently, SNAP shares are trading for $24.48.
Top Stocks to Watch Today: Costco Wholesale Corp. (Nasdaq: COST)
Costco stock is down 4.5% in early morning trading after announcing its earnings report.
The company announced $1.17 earnings per share (EPS), down from $1.24 EPS for the same quarter a year earlier.
Same-store sales were up 3% for the quarter, but analysts were predicting a 3.2% increase in sales.
COST stock is currently trading at $177.98 for a year-to-date (YTD) gain of 11%.
Top Stocks to Watch Today: hhgregg Inc. (OTCMKTS: HGGG)
Hhgregg stock is down 7% in early morning trading.
Yesterday, the company announced it will close 88 stores and lay off roughly 1,500 employees. The news caused the stock to spike 97%.
However, today it looks like the market is taking a second look at the store closing news and has less optimism that the company will be able to turn a profit.
Currently, HGGG stock is trading at $0.26 for a loss of 81.8% YTD.
Editor's Note: Protect your money in 2017. Know exactly what to buy and what to sell.